23 December 2021, Mumbai:
Chromozome is focusing on the extension of product categories. It also aims at building new channels and expanding into new geographies. The industry is expected to grow in double digits with online channels leading new adoption, which is the platform that the company intends to focus on.
The company is focused on the mid-level and premium segments of the industry which account for about 46 per cent of the men’s innerwear market.
Chromozome competes against the likes of Page, Dollar, Lux and Rupa. Founded in 2001, the company manufactures, distributes, and markets men’s everyday wear products under the brand Chromozome. It sells its products both through offline stores and online marketplaces. Chromozome has gone in for a round of fundraising.
The apparel sector has witnessed an increase in fund flow, more so with sector players turning to the D2C space.
In July, Surat-based men’s apparel brand XYXX raised Rs 30 crores. Mumbai-based D2C fashion brand Bewakoof, which specialises in self-expressive merchandise, raised Rs 60 crores in August.
The fashion D2C segment is also attracting significant investor interest. As of April 2021, the segment raised the highest funding among all D2C segments in India, and the boom has brought hundreds of brands to the market.
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