'Bewakoof' did wonders, raised Rs 60 crore from investors, aims to sell Rs 2000 crore by 2025
Youth-focused direct-to-consumer brand Stupid on Wednesday said it has secured funding of Rs 60 crore from Investcorp, Ivycap and Spring Marketing Capital. With this new round of financing, Nerd has garnered Rs 170 crore so far. The company said that it will use this finance for growing its business, marketing and talent acquisition. The company said in a statement that it aims to achieve sales of Rs 2,000 crore by 2025 and plans to fuel its growth through investments in branding, technology and talent.
'Bewakoof' does wonders, raises Rs 60 crore from investors, aims to make sales of Rs 2000 crore by 2025, direct-to-consumer brands are companies that sell their products directly to customers without a distributor or traditional retail channel . Youth-focused direct-to-consumer brand Stupid on Wednesday said it has secured funding of Rs 60 crore from Investcorp, Ivycap and Spring Marketing Capital. With this new round of financing, Nerd has garnered Rs 170 crore so far. The company said that it will use this finance for growing its business, marketing and talent acquisition. Nerd has recently started a digital campaign with Rajkummar Rao, Sanya Malhotra and Farhan Akhtar. The company plans to tie up with other A-list stars for marketing campaigns across digital, out-of-home and TV. At the technology level, the company will launch a gamification-led loyalty program. Prabhakiran Singh, Founder & CEO, Nerd said that Nerd has emerged as the largest D2C fashion brand in India. This growth has been achieved through the launch of a new category of exclusive fashion range with brands like Coca Cola. With the new funding, we will try to take our brand to new customers by leveraging TV and print media.
Direct-to-consumer brands are companies that sell their products directly to customers without a distributor or traditional retail channel. Singh said that our focus is to present the best of fashion at an affordable price. Started in 2012, Nerd offers products such as apparel, footwear and mobile covers. It has recently forayed into the beauty segment with the Cosmos brand. The company has so far reached 6 million customers and is adding one lakh new customers every month. The company plans to foray into new categories like activewear and innerwear along with growing Cosmos.
