Bewakoof to launch multi-brand marketplace Bazaar

By

Isabelle Crossley

Published
Dec 15, 2021

Apparel business Bewakoof will add a multi-brand marketplace named ‘Bazaar’ to its e-commerce platform to host around 150 youth-oriented fashion and lifestyle brands.

Soon Bewakoof will add a wide range of casual wear, street wear, and other youth-oriented brands to its online store. The business expects to generate around Rs 500 crore ($75.2 million) in brand sales from this venture in the next year, Bewakoof’s co-founder and chief executive, Prabhkiran Singh, told the Economic Times in an interview. 
 
The business also plans to expand its product categories and step into homeware in the upcoming 2023 financial year. Bewakoof recently entered the beauty space by launching a cosmetics brand Cosmos, it announced on Facebook.

“This marketplace is launched with an aim to help customers discover unique, creative and fun brands which tend to get lost in large marketplaces algorithms,” Singh told the Economic Times.

“We are looking to raise a larger round of $40 million- $50 million given there is considerable inbound interest and have plans to scale up this marketplace model.”
 
So far, Bewakoof has raised $23 million towards the project. The business is backed by investors including InvestCorp, IvyCap and Spring Marketing Capital among others. 
 
Bewakoof is a direct-to-customer fashion business, which targets Gen Z shoppers. The brand recently launched a streetwear line and also retails its own-brand products on multi-brand e-commerce platforms which it plans to continue to do after it launches its own marketplace.