NEW DELHI, June 16: Men’s innerwear brand XYXX on Wednesday said it has raised Rs 30 crore in funding from DSG Consumer Partners, Synergy Capital Partners and Sauce.VC.
The company intends to use the funding to build its product portfolio, strengthen retail presence and build brand awareness.
“XYXX… 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,” XYXX said in a statement.
Yogesh Kabra, Founder, XYXX said, “In the last year itself, we have witnessed tremendous growth of over 300 per cent as compared to pre-pandemic levels… Since we are currently at a high-growth stage in our journey as a brand, we aim to use resources to expand our product portfolio, strengthen our retail presence and build brand awareness.”
The brand said it is present in over 6,000 strategic offline outlets and all major e-commerce marketplaces including Amazon, Myntra, Flipkart and Ajio among others.
XYXX said over the next year, the company aims to scale its offline presence to 15,000 stores across the country. (PTI)
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