XYXX Apparels Pvt Ltd, the parent company of XYXX Innerwear brand, announced the first round of seed funding from Sauce.vc, an early stage consumer-focused VC fund. Sauce.vc is founded by private equity veteran and consumer angel investor Manu Chandra. Govind Shrikhande, ex-MD of Shoppers Stop and advisory board member of Sauce.vc, has joined XYXX as a senior advisor.
XYXX Innerwear is a premium men's innerwear and loungewear brand, offering a wide range of comfortable and fashionable products using superior fabric such as MicroModal and Supima cotton at affordable prices. XYXX products are widely available online and have recently started retailing in multi-brand outlets in some regions.
Manu Chandra, Managing Partner, Sauce.vc, 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 & CEO, XYXX Apparels Pvt Ltd, stated, "XYXX stands for fun and choice for the next generation consumer. We are offering a wide portfolio of innerwear and loungewear products made from modern fabrics in a variety of appealing designs and prints targeting the modern Indian male. I am happy to have found the right partners to take this journey a step ahead. It has been a pleasure to work with Manu and Shrikhande over the last few months. We are benefiting immensely from their deep understanding and experience in the space. 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."
Govind Shrikhande, ex-MD, Shoppers Stop, and Advisor, Sauce.vc, added, "I am very happy to partner with a young challenger brand like XYXX. The innerwear category is ripe for disruption by new home-grown brands. Yogesh and team are building a sound and scalable business with a deep understanding of textile and apparel manufacturing and supply chain. I look forward to contributing to this journey."