Almo, Loungewear brand growing decently
08 September 2022, Mumbai:
Almo is a Gurugram-based men’s loungewear brand. It is increasing its presence across online marketplaces and plans to soon enter the offline space.
Almo was launched amid the pandemic with the aim of reinventing the men’s essential wear experience.The firm, which began its journey with men’s underwear, went on to launch micromodal trunks. Almo soon expanded into the athleisure category—a segment that saw massive growth amid the work-from-home lockdown days—with T-shirts and shorts. Almo wants to position itself not just as an innerwear brand but as an all-round men’s apparel brand in the premium space.
Almo currently delivers 15,000 to 20,000 pieces of apparel every month through digital channels. About 70 per cent of orders come through its own website; the others are from Myntra and Amazon. The brand is in the process of increasing its presence across marketplaces. It has started selling in the US through Amazon, and is also available on Nykaa.
Almo is growing 20 per cent month on month andhas raised a seed round of $1.9 million from Inflection Point Venture and AngelList.
The Indian innerwear market is growing by 13 per cent a year.
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