Global alternative asset manager Investcorp, invested $11.2 million in Bewakoof Brands - one of the leading direct to consumer online apparel companies in India. The brand provides creative and distinctive fashion at affordable prices for trendy and contemporary Indians.
Bewakoof was founded by Prabhkiran Singh and Siddharth Munot in 2011. Since inception, it has created fashion which resonates with millennials across India and has been widely recognised for its unique designs. In a short period of time, it has created a robust brand offering by building strong capabilities in design, supply chain and a high engagement digital customer platform. This has led to delivering sales of more than 650,000 products per month with a customer base of over 4 million, often making repeat purchases.
Investcorp’s investment in Bewakoof is in line with their strategy to tap into sustainable business models in the mass consumption driven Indian market. Investcorp raised `1,000 crore in its maiden India-focused private equity fund. The new fund targets investment opportunities across three key sectors – mass-market consumer, financial services and healthcare. Other than Bewakoof, the fund has so far invested in four companies namely Incred, ASG, Zolo and Citykart.
Investcorp manages over $28 billion globally and at its core is a mid-market investment specialist. The private equity business of Investcorp has close to 40 years of mid-market investing experience across the North America, Europe and the MENA region with more than $36 billion of transaction value in almost 200 investments across retail, consumer products, technology, business services and industrials.
