Youth apparel start-up, Beyoung plans to invest $3.3 million for expansion of sales and to hire 150+ employees. The vision of this investment is to generate an exponential increase in the operations as well as giving the finest shopping experience to the shoppers. With it, the team intends on commencing an affordable product range so that no customer has to compromise with the design they liked.
Instigated in the year 2018, Beyoung has speedily become one of India's fastest-growing apparel brands. The vision of Shivam Soni (Founder & CEO), Sakshi Soni (Co-Founder), and Shivani Soni (Co-Founder) was not only to grow as an apparel brand but it was to generate mutual benefits.
Shivam Soni, Founder & CEO, Beyoung, said, "Talents from most of the Tier III cities migrate to Tier I in the job search. Being an entrepreneur and understanding the job struggles of people, I thought of expanding the myriad of opportunities, not only for me but for many. The hiring of more employees is thus a milestone for team Beyoung. Hence, the company intends to dedicate a surplus amount to this purpose. For this, the company will generate opportunities for 150+ employees by 2022 and cross 750+ employees by 2024."
However, the expansion and generation of $3.3 million have further segregations to meet the plan for future growth prospects. One of the core objectives of it is the launching 50+ product categories with countless patterns till FY’24. This range would lead to more enhancements in popular merchandise like DC, Tom & Jerry, Looney Tunes, F.R.I.E.N.D.S, etc. Not only this, there are many iconic creations veiled that are yet to be launched.
As per the recent stats, Beyoung is going to achieve 20 million users by 2022 and will be accomplishing a bar of 80 million users by 2024. To reach out to the whole nation, Beyoung is geared up for meeting the customer's demand with an enhanced supply chain. A secured and convenient channel will be prepared so that anyone and anytime can enjoy the soulful experience of the splendid collection of apparel and accessories from Beyoung.
With the spread of hands for products and merchandise, the investment is also purposed for looking forward to an upgrade in its existing technology. For this, Beyoung is coming up with enticing technological advancements for developing in-house automated technologies and Next-Gen shopping experience.
Team Beyoung is thriving with instigating 100+ offline outlets in tier-I and II cities within the upcoming 2 years.
It is a bootstrapped startup with an initial investment of just Rs 1 lakh in 2018. Today, the frenetic styles and vast range are recording a rise of revenue from 2018 till present by 800 percent. The company projects the expansion in the next 3 to 4 years with targeted sales of Rs 400 crore+ ARR and employment expansion of 750+ nationwide followed by the introduction of 50+ categories of products.