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Ashmeer M Sayyed. Pic: DaMensch
DaMensch, a premium men’s fashion brand that recently raised $16.4 million funding, has announced its plan to foray into offline retail business. DaMensch, founded in 2018 by Gaurav Pushkar and Anurag Saboo, has grown 3 times year over year (YoY) in the last three years.
With a significant investment from the recently raised funding the company is planning to venture into retail stores within this year and be available at 10,000 point of sale avenues across various formats, by 2024, DaMensch said in a media release.
DaMensch, a men’s fashion brand that recently raised $16.4 million funding, has announced its plan to foray into offline retail business. With a significant investment from the recently raised funding the company is planning to venture into retail stores within this year and be available at 10,000 point of sale avenues across various formats, by 2024.
Gaurav Pushkar, co-founder, DaMensch, said: “As a D2C brand we have cracked the formula of creating innovative products, acquiring customers efficiently and retaining them successfully. Today, 50 per cent of our revenue comes from our existing customers and this is a proof of our potential, we want to be where our customers are and hence the launch of the offline channel to offer the consumer omnichannel solution. While we make our presence felt in GT, MT and other Large format stores this year we would also be launching exclusive brand outlets in near future.”
In-line with the retail mission, DaMensch has appointed Ashmeer M Sayyed, as chief retail officer to boost the next stage of the company’s growth, spearhead offline sales and drive strategic partnership efforts. Prior to joining DaMensch, Sayyed was with Jockey. Previously, Sayyed was general manager of retail and heading the international business at Page Industries Ltd.
Speaking on his appointment, Sayyed said “I am excited to be joining the DaMensch growth story at such a crucial juncture in the brand life cycle. The acceptance of the brand by consumers online in such a short time presents multiple growth possibilities in other formats. We have an opportunity to create a truly compelling Omni-channel offering for our customers who value the brand ethos of Fashion that thinks.”
Pushkar added, “The first half of 2022 has been very strong for us in terms of consumer as well as investor interests. Offline retail space is a promising ecosystem for us to continue the growth momentum in the coming days. We are delighted to have Ashmeer on board who will play a pivotal role in establishing DaMensch’s offline retail network.”
Fibre2Fashion News Desk (KD)
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