India’s largest streetwear aggregator, Crepdog Crew (CDC) has raised an undisclosed amount in seed round funding from marquee investors and industry veterans including Rahul Kayan (Director, SMIFS Ltd); Harminder Sahni, founder Wazir Advisors and one of the earliest angel investors in India; fashion designers Masaba Gupta and Nikhil Mehra, Pharmeasy co-founders Dharmil Seth and Siddharth Shah and chairman Yogesh Shukla, and Ankit Solanki, angel investor, and partner Capillary Ventures.
At the forefront of the hype culture in India, CDC envisions using this fresh capital to scale its e-commerce business and community-based retail footprint.
Since 2019, CDC has gone from strength to strength, expanding from an Instagram page to a website to a 6,000 square feet flagship store, CDC Experience in New Delhi, that houses the biggest sneaker wall in India, the widest collection of Indian streetwear designers, a basketball court, a craft coffee café, Brisk and even a burger shop. Plans for 2023 include opening CDC’s second experiential retail store within the next three months in Mumbai.
The sneaker sector in India has been one of the fastest growing sectors in India - India’s sneaker market share is currently growing at 12-15 percent and is expected to catch up to the global sneaker market that stands at $6 billion - a fact that has not gone unnoticed by investors. But what makes CDC’s success story even more exciting is its focus on curating and nurturing homegrown streetwear fashion talent. CDC currently retails more than 40 streetwear brands on its website and 20 brands – exclusively – at its flagship store.
Yogesh Shukla, Chairman PharmEasy said, “The Indian sneaker market is literally going places and CDC being a marketplace will continue to play a larger role by helping resellers and fulfilling the demands of sneakerheads. But what gives CDC an edge is their curation and support of young talented designers on their online platform, and in-store. This combination of sneakers and fashion makes it a very exciting proposition to be invested in.”
The brand has already witnessed 350 percent year-on-year growth since its inception in 2019 and aims to further spread its reach by opening more stores across the country. Today, crepdog logs more than 6 lakh visitors every month, and the platform delivers over 500 pairs of sneakers per week to customers spread all across India every week - establishing itself as a profitable multi-crore business and India’s one-stop shop for everything sneaker and streetwear related.
Masaba Gupta, Fashion Entrepreneur, and Actor said, “Young India is leading the charge, blazing ahead with purpose and a plan, and which is why I am thrilled to be backing an incredibly exciting business like Crepdog Crew led by a team of young founders. CDC has caught on to the burgeoning global sneaker resale culture, which is steadily growing into a community of its own here in India. Re-sale is cool not just for yourself, but for our planet as well.”
Angel investor and partner Capillary Ventures Ankit Solanki invested in CDC because he believes “CDC is well poised - both with their retail and digital presence - to attract Indian teens interested in hype wear and luxury apparel spenders who are getting younger.”
The search for a pair of the coveted Yeezys is what led to the creation of Crepdog Crew, and today is the country’s most trusted sneaker and streetwear aggregator with a turnover of Rs 25 crore. Friends and co-founders Anchit Kapil, Bharat Mehrotra, and Shaurya Kumar saw a gap in the market and today have a platform that can be counted on for product authenticity and accessibility for all.
Anchit Kapil, Co-founder and CEO Crepdog Crew said, “Our commitment to providing enthusiasts authentic products and the best Indian streetwear designs within the best shopping experience is what drives us and has seen us become a one-stop shop for the community. This investment is an exciting next step for the brand. It gives us the impetus to continue our mission which is to reimagine the convergence of community and sneaker and streetwear culture and lifestyle.”