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 to 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 its first round of seed funding of INR 2 crore from the Sauce.VC, and Govind Shrikhande, ex-MD of Shoppers Stop has joined the brand as a 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,
The company which is founded in 2017 by the Yogesh Kabra, XYXX designs and manufactures the comfortable innerwear for the men ranging from the briefs, trunks, jockstraps, t-shirts, pajamas, and jockstraps.
The brand is even working on establishing its presence in the multi-brand outlet 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 five fold in as many months, beating all our estimates, that too in a very capital efficient manner with better than industry margins. 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, 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,