Beyoung, an Indian D2C fashion brand, said it has received a strategic investment from the Royal Office of Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan.
The Royal family has made significant investments in the global start-up ecosystem with sectors spanning across real-estate, retail, genomics and deeptech. This strategic investment marks a pivotal moment in Beyoung’s trajectory, signalling not just an injection of financial support, but a testament to the startup’s global potential and enhancing its omnichannel presence worldwide with ambitious plans to launch over 300 stores globally in the next three years, it said in a statement.
“We recognize the immense potential within Beyoung, especially in its strategic focus on reaching tier II and tier III cities globally. The strategic Investment in Beyoung aligns with our long-term vision of supporting the Indian apparel industry and fostering the creation of international brands. We believe in Beyoung’s potential to not only excel in the domestic market but also emerge as a global fashion leader,” said Zulfiquar Ghadiyali, executive director – private office of highness Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan.
With this investment, Beyoung said it aims to strengthen its market position, drive innovation in the fashion industry and continue to deliver high-quality affordable clothing to its Beyoungsters.
“Coming from a small town, we understand the importance of reaching out to diverse regions. Partnering with the Abu Dhabi royal family opens doors not only to the GCC and MENA regions but also paves the way for a global expansion strategy. This investment is a substantial backing that will enable us to grow multifolds exponentially, reaching new heights on a domestic as well as international scale,” founder and CEO of Beyoung, Shivam Soni, said.
Founded in 2018 from Udaipur, located in Rajasthan, Beyoung has a current GMV of Rs150 crore and it has a target to achieve Rs600 crore GMV in the next three years.
As the world’s second-most populated country, India is an attractive market for apparel brands, especially with youngsters increasingly embracing western-style clothing. Within the apparel space, several brands including H&M and Puma get over 40-50% of their revenues from online, indicating increased affinity towards ecommerce channels post the pandemic.
The fashion and lifestyle ecommerce market will be a $35-40 billion market by 2027 and within D2C alone, there is an addressable market of at least $15-20 billion, say experts.
