Mumbai, NFAPost: DaMENSCH, a premium men’s lifestyle brand, has raised $16.4mn (Rs 122.5 crores) in series B fundraise led by A91 Partners. Existing investors Saama Capital, Matrix Partners and Whiteboard Capital also participated in the round.
DaMENSCH Cofounder Anurag Saboo said the company’s products are addressing a big white space in the wardrobe of the modern man.
“We have clocked 100Cr ARR in 2021 making us the fastest D2C apparel brand to reach this milestone, on the back of our strong consumer proposition,” said DaMENSCH Cofounder Anurag Saboo.
Talking about growth plans, DaMENSCH Cofounder Anurag Saboo said the company is targeting 3x growth in the coming financial year through meaningful product-market and channel expansion.
Currently, the portfolio has more than 200 SKUs listed across more than 15 categories and has made more than 10mn shipments to over 10,000 pin codes across the country.
Speaking on portfolio expansion plans, DaMENSCH Cofounder Gaurav Pushkar said innovation is core to DaMENSCH.
“We started this journey by creating unique products like bamboo vests and deodorizing underwear. From the 500 day warranty on our Constant Loungewear collection to Mozzarella stretch chino shorts, we continue to leverage fabric engineering to redefine menswear. In 2022, we will deepen our presence in the innerwear, loungewear, sleepwear, and everyday-wear categories,” said DaMENSCH Cofounder Gaurav Pushkar.
A91 Partners Prasun Agarwal said DaMENSCH has become the go-to brand for affluent men who are looking for new age, digital-first clothing brands that can combine comfort and style and gives them a chance to upgrade their products and brands.
“With a meaningful (40%) set of consumers shopping multiple (2-3) times a year, DaMENSCH has managed to grow on the back of loyalty from existing customers and continuous addition of new customer segments,” said A91 Partners Prasun Agarwal.
Saama Capital Managing Partner Ash Lilani said Saama Capital is excited to continue partnering with DaMensch on their phenomenal growth journey.
“The brand’s combination of product quality and customer experience makes it one of the most exciting D2C plays in India. Gaurav and Anurag have put together a top-quality team and are poised to scale significantly over the next few years,” said Saama Capital Managing Partner Ash Lilani.
Whiteboard Capital General Partner Anshu Prasher said ss the first investors in the Company, the company has been highly impressed by the strong product innovation and customer-centric business DNA.
“We are excited to partner with A91 as we continue on this journey of efficient and unit economics driven growth.” Said Whiteboard Capital General Partner Anshu Prasher.
Matrix India Principal Sudipto Sannigrahi said DaMENSCH has achieved tremendous growth over the last 12 months and is poised to be the leading mass-premium brand for the men’s apparel category in India.
“Anurag & Gaurav’s customer-obsessed approach & the superior quality of the product truly sets them apart, & we are thrilled to be doubling down on our investment! We welcome a91 Partners to the partnership & look forward to the next phase of growth,” said Matrix India Principal Sudipto Sannigrahi.
About DaMENSCH
DaMENSCH is constantly in pursuit of innovating men’s essential wear. In the pursuit of a world, where everyone’s potential is unlocked to do more, every single day. Started in 2018, DaMENSCH is a D2C brand that caters to the men’s premium essential wear fashion segment in India. DaMENSCH envisions to become a lifestyle brand that will become an integral part of every global Indian’s wardrobe. Every product designed by DaMENSCH Product lab, from innerwear to loungewear is infused with innovation never seen before.
The brand is driven by a purpose to make the world a better place, by doing more every day, for the customers and nature. DaMENSCH is committed to earth-friendly and slow fashion, as reflected in its packaging made of corn and paper that’s 100% biodegradable.
DaMENSCH believes everyone can do more. In order to unlock true potential, not being content with the status quo is important. For that innate satisfaction and pursuit of excellence, DaMENSCH is creating an inclusive community of those who seek continuous improvement in comfort, well-being and life.
Responsible brands have also picked pace in the post-pandemic era. By shifting from plastic to corn-husk or paper-based packaging alone has resulted in DaMENSCH saving 10L + units of single use plastic. Almost 160 Burj Khalifas in length if you pile them up. Bamboo fabric, sustainable dyes, long-lasting material, smartly sourced cotton from the Deccan Plateau are few other actions undertaken.
