The D2C menswear startup XYXX Apparels raised $11 million from new investors Sauce Venture Capital and DSG Consumer Partners as well as Singularity Growth Opportunities Fund through a debt infusion of about $2 million.
An assortment of product categories, including innerwear, loungewear, comfort wear, activewear, and winter wear, are manufactured and sold by the menswear company XYXX. Through the launch of new products, the incoming funds will be utilised to increase the company’s geographic footprint and fortify its position in current markets. Additionally, XYXX will invest in contemporary retail, large-format stores, and exclusive brand stores with the money it receives.
By 2025, the potential for e-commerce in India is predicted to be $400 billion. The third-largest eCommerce market opportunity is in the fashion and clothing sector, with a market size of $33 billion by 2025 and a three-year CAGR of 19%.
