Styched to invest around Rs 1.5 crore in the Indian market

Fast fashion start-up Styched, plans to invest nearly Rs. 1.47 crore in India to amplify its operations. The investment will be utilised to ramp up the AI-enabled backend processes, fast track manufacturing and expand the designing and technology teams.

Started in February 2019, Styched is a fast fashion e-commerce brand targeting the youth, providing end-to-end fashion at very competitive prices. The Bangalore-based start-up dispatches over 200 orders a day and can deliver an assortment of styles and designs because of its zero inventories and production-on-demand processes, a unique initiative by an Indian fast fashion brand.

Emphasising its expansion plans, co-founder and CEO, Soumajit Bhowmik said “Our business model is based on production on demand which is unheard of in the industry. We experienced a kickstart with a revenue of $50,00,00 (Rs. 3.67 cr.) in the first year and a 125% quarterly growth. With an extensive fabric print setup in-house, the percentage of unsold inventory is less than 3.”

“We invested Rs. 20 lakh initially and once we crossed the run rate of 3,000 orders per month, we raised a round of seed funding in September 2019,” he added.

With Styched.life, Styched looks at promoting talent through its exclusive merchandise platform for the Indian audience across all sectors including comics, music, sports and arts. Styched Life collaborates with brands, artists, performers, influencers, TV shows and non-profit organizations to create exclusive, co-branded fashion merchandise.