Sauce Venture Capital invests in innerwear firm XYXX Apparels
XYXX Apparels Pvt Ltd, the parent company of XYXX Innerwear brand, has raised an undisclosed amount from Sauce Venture Capital, an early stage consumer-focused VC fund.
XYXX is looking to strengthen its omni channel distribution presence across the country and the investment is expected to give a boost to its expansion plans. The company will focus on premium quality and affordability for growth in the Indian market.
XYXX has also appointed Govind Shrikhande, ex-managing director of Shoppers Stop as a senior advisor in the company.
Commenting on the investment, Manu Chandra managing partner at Sauce.vc in a statement said: “We are proud to back XYXX and Yogesh. We believe there is tremendous potential for a premium innerwear brand that can offer better quality at affordable prices in the growing mass premium segment. Omni channel distribution presence and supply chain management will be the key strengths this team will build on.”
Yogesh Kabra, founder and CEO at XYXX Apparels Pvt Ltd added, “XYXX stands for fun and choice for the next generation consumer. It has been a pleasure to work with Manu and Shrikhande over the last few months. I look forward to formally having them on board as investor and advisor and to make XYXX a successful premium brand in the innerwear and loungewear category, with a sharp focus on premium quality and affordability.”
XYXX Innerwear is a premium men’s innerwear and loungewear brand. The company sells its products through various online portals and is also available at multi-brand outlets in some regions.
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