Brandis Manufacturing and Marketing Private Limited, an emerging player in the Lingerie and the men’s Active-wear segment, today announced that it has raised Rs 70 crore 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.
Brandis will use the money to expand its operations, establish its production facilities and build its brands. Its products are presently retailed across 2,000 stores in the country.
The women apparel market in India is Rs 72,050 crore and the lingerie market contributes to 10.83% of the total women’s apparel market in India. The highly fragmented lingerie market is pegged at Rs 7,800 crore growing at 12% per annum, with very few consolidated brands.
“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,” Nischal Puri, Managing Director, Brandis Manufacturing and Marketing Private Limited said.
2GO, the second brand owned by Brandis offers a range of men’s active-wear. The Indian consumer buys Rs 3,000 crore worth of active wear in a year and the segment is growing at a healthy rate of 22% per annum.
Brandis addresses a market of Rs 8,500 crore between BEYOUTY and 2 GO.
“Brandis is our first growth capital investment in the apparel space. Our belief is that the space is still very fragmented and there is a tremendous opportunity for a player that is able to present the right product-pricing-imagery matrix to the consumer,” Venkat Shankar, Investment Director, Peepul Capital Advisors Private Limited said.