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Updated on: Wednesday, June 16, 2021, 11:59 AM IST

#FundingAlert: Men's innerwear brand XYXX raises Rs 30 cr in Series A funding

Yogesh Kabra, Founder, XYXX | Siddhant Jain

Yogesh Kabra, Founder, XYXX | Siddhant Jain

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XYXX, a brand in the men’s innerwear and comfort-wear space, has raised Rs 30 crore in its Series-A round of funding. DSG Consumer Partners and Synergy Capital Partners joined existing investor Sauce.VC to invest in this round.

Led by founder Yogesh Kabra, XYXX aims to revolutionize the men’s basics segment in India with innovative fabrics and contemporary designs. XYXX was founded in 2016 with the aim to make buying and wearing innerwear an enjoyable, fun experience for India’s young men.

Commenting on the funding, Yogesh Kabra, Founder, XYXX said, “In the last year itself, we have witnessed tremendous growth of over 300 percent as compared to pre-pandemic levels. We are happy to have found the perfect partners in DSG Consumer Partners, Synergy Capital Partners and Sauce.VC to achieve the shared vision of reaching market leadership in the long term.”

Manu Chandra from Sauce.VC said, “We are proud of how XYXX is reinventing men’s basics and are invested in the brand and Yogesh Kabra’s mission to transform the inner-wear and loungewear space in the country.”

Hariharan Premkumar from DSG Consumer Partners said, “The innerwear segment is one of the fastest growing fashion categories in the Indian subcontinent. Projected to reach Rs 21,800 crore by 2028, the segment is expected to grow at a healthy 7 percent CAGR.”

On the avenues for allocation of the funds, Kabra said, “ We aim to strengthen our physical presence in the country by 3X and have up to 15,000 retail points across the country in the next 12 months.”

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Published on: Wednesday, June 16, 2021, 11:59 AM IST
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