Popular lifestyle fashion brand BEWAKOOF® has opened its first retail store in Forum Falcon Mall, Bengaluru. This significant milestone marks the brand’s first major foray into offline retail, a decade after its inception in 2012.
Bewakoof, known for its creative and distinctive fashion for contemporary Indians, was founded by Prabhkiran Singh, who is currently the CEO of the brand. During his time at IIT Bombay, Singh embarked on an entrepreneurial journey, experiencing initial failures before hitting success with Bewakoof. The brand has since grown significantly, and the company claims to have served over 6 million customers and has a strong social media following of more than 6 million people.
In a recent LinkedIn post while sharing the news about the first retail store, Singh reflected on his journey from pitching to shopkeepers on his bike in 2011 to launching the first retail store. He recounted the challenges faced in those early days when fashion retail was dominated by offline stores and traditional models.
Despite numerous rejections, his persistence eventually paid off with a small temporary shelf in a Colaba shop. Fast forward to today, the brand has partnered with Aditya Birla Fashion and Retail Ltd.’s TMRW House of Brands to open physical stores across the country.
Reflecting on this journey, Singh expressed his disbelief and excitement at achieving this milestone. He noted that in 2011, the barriers to entry for newcomers in fashion retail were incredibly high, pushing the brand to innovate.
Leveraging their tech background, they set up India’s first Direct-to-Consumer (D2C) brand store online in February 2012. This move allowed Bewakoof to gain significant traction online before venturing into offline retail.
The brand has raised a total of $39.5 million over 13 rounds since its first funding round in October 2011. The latest funding round was a Series B round on December 27, 2021, raising $6.92 million, led by Klub and Investcorp with participation from 33 investors.
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According to INC42, Bewakoof reported a net loss of INR 12.7 crore in the financial year 2022-23 (FY23), a significant improvement from the INR 30.7 crore loss in FY22. The brand managed to reduce its losses by nearly 60% due to a sharp rise in ‘other income’. However, its operating revenue declined by 8%, standing at INR 147.1 crore in FY23, down from INR 160.19 crore in the previous fiscal year.
As the brand continues to expand its physical presence, it remains committed to its principles of impact through innovation, honesty, and thoughtfulness. With a team of 400 members and over 8 million products sold to date, Bewakoof balances creativity and relatability in its designs, while maintaining a focus on sustainability and social impact in its operations.
