Indian star cricketer KL Rahul has invested in an Indian brand innerwear and lingerie manufacturing company. The company has also made this star cricketer its first brand ambassador. Men’s innerwear manufacturer XYXX is a household brand. Which claims that it makes eco-friendly clothing.
XYXX Innerware and Longware Company sells its products not only on its website but also on Amazon, Myntra, Flipkart and Ajio. The company says that with the inclusion of cricketer KL Rahul, the online business of this brand will grow rapidly. Explain that during June 2021, this company had raised Rs 30 crore as funding from Sauce.VC, DSG Consumer Partners and Synergy Capital Partners.
How much has Rahul invested?
The cricketer has invested in it after the company announced KL Rahul as its brand ambassador. However, the amount of investment has not been disclosed. Rahul has joined as an investor with an undisclosed amount.
what did the cricketer say
Indian cricketer KL Rahul said that he is excited to be a part of the brand. They are associated with this brand only after deliberation, and the products of this brand are good for people to use. The firm’s founder Yogesh Kabra says that like KL Rahul plays intelligently on the pitch, he also connects with reality outside.
Business will be around 900 billion in six years
According to a report by SMIFS Industries, Page Industries, Lux Industries Ltd., Dollar Industries Ltd., Rupa & Co. Ltd. are some of the prominent players in this segment in India. However, research says that this Indian innerwear market was valued at ₹320 billion in 2018 and is expected to grow to ₹897 billion by 2028 at a CAGR of 11% in ten years.