XYXX Apparels Pvt Ltd, which is a Surat-based premium innerwear brand has now secured INR 6 crore from an early-stage consumer-focused venture capital fund, sauce VC.
XYXX plans to use the funds aggressively for the expansion of its sales and marketing efforts. Moreover, the startup will also focus on broadening and accelerating product development.
This march, XYXX revealed that it’s the first round of seed funding of INR 2 crore from the Sauce.VC and Govind Shrikhande, ex-MD of Shoppers Stop have joined the brand as Senior Advisor.
“As a brand, we would like to introduce XYXX as a fun, quirky, yet comfortable essential that has unique propositions to offer. This investment from Sauce.vc is a move in this direction and is bringing us closer to our goal of allowing everyone to experiment and try out our brand. The investment will also help us rapidly scale across new markets.” Yogesh Kabra, Founder of XYXX Apparels Pvt Ltd, said.
About company found
The company which is founded in 2017 by Yogesh Kabra, XYXX designs and manufactures comfortable innerwear for men ranging from briefs, trunks, jockstraps, t-shirts, pajamas, and jockstraps.
The brand is even working on establishing its presence in multi-brand outlets and large formats stores like Central India. It is also present on the major online marketplace such as Amazon and Myntra as well as its own website.
“XYXX has grown fivefold in as many months, beating all our estimates. That too in a very capital efficient manner with better than industry margins. But now with a top team in place and significant investment in the back-end systems. We have everything we need to scale to the next level. Growth will be driven by an exciting pipeline of new product and category launches. The opening up of new geographies in India as well as new channels. Some deep brand initiatives are also being undertaken over the next two quarters.” Manu Chandra, Founder & Managing Director of Sauce.vc, said.
