Brandis Manufacturing and Marketing Private Limited raises INR 70 crores from Peepul Capital III LLC
Brandis Manufacturing and Marketing Private Limited, an emerging player in the Lingerie and the men Active-wear segment, today announced the successful conclusion of a fund raise of up to INR 70crores, in multiple tranches, with Peepul Capital Fund III LLC as the sole investor.
Brandis Manufacturing and Marketing Private Limited is in the process of building national presence in the Lingerie and the men Active-wear segments through its brands BEYOUTY and 2GO respectively. The women apparel market in India is INR 72,050 crores and the lingerie market contributes to 10.83 % of the total women apparel market in India. The highly fragmented lingerie market is pegged at INR 7,800 crores growing at 12% per annum, with very few consolidated brands.
“Brandis aims to become a significant player in the fragmented women innerwear segment in the next few years. There is a huge gap in the expectations of women consumers and the brand offerings in the segment. Brandis aims to narrow this gap and climb up the brand preference ladder of the woman consumer through its brand BEYOUTY” said Nischal Puri MD Brandis Manufacturing and Marketing Private Limited.
2GO, the second brand owned by Brandis offers a range of men’s active-wear. The Indian consumer buys INR 3000crores worth of active wear in a year and the segment is growing at a healthy rate of 22% per annum.
“India with a high percentage of youth consumers who are fashion and fitness conscious is an extremely lucrative market for active wear. 2GO aims to be the preferred brand in this category.” said Nischal Puri.
Brandis addresses a market of INR 8,500 crores between BEYOUTY and 2 GO. Brandis will use the money to expand its operations, establish its production facilities and build its brands.
Venkat Shankar, Investment Director, Peepul Capital Advisors Private Limited was part of the team that led the investment. “Brandis Manufacturing and Marketing Private Limited is our first growth capital investment in the apparel space and we are very excited by the opportunity to build a stable of strong brands in the Innerwear and Active-wear categories. Our belief is that the space is still very fragmented and there is tremendous opportunity for a player that is able to present the right product-pricing-imagery matrix to the consumer. Brandis is very strongly positioned to execute against this opportunity given the past track record of Nischal Puri and his team.” said Venkat Shankar.