In its seed fundraising round, which was led by Multiply Ventures and included participation from Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures, the Thiruvananthapuram-based direct-to-consumer (D2C) fashion firm MyDesignation raised $1.25 million, or around Rs 10.7 crore.
According to MyDesignation, the capital will be utilized to enhance hiring, improve technology, expand offline presence, and enter new markets.
MyDesignation is a fashion and lifestyle brand that was founded in 2020 by Swaroop Krishnan and Gopika B Raj, a husband and wife team. With over 500,000 customers and a 35% monthly repeat rate, the brand says it has grown its customer base and plans to quadruple it in the coming year.
MyDesignation has complete control over the consumer journey because it runs autonomously without depending on outside platforms or marketplaces. The company intends to increase its offline presence, develop its technology capabilities, and recruit personnel who share its goals.
Brands like NNNOW, Nicobar, and Yepme compete with MyDesignation in the cutthroat D2C fashion market.
With more than a million satisfied clients, MYDESIGNATION, one of India's fastest-growing unisex fashion firms, was founded in 2017 by the power couple Gopika and Swaroop. They are renowned for their creative designs that seek to create a statement, attention to detail, and use of high-end materials.
The main goal is to develop a market of their own between the existing affordable and luxury segments, which they themselves call “Affordable Luxury Fashion”. Their apparel line appeals to both youthful trend-setters and shoppers on a tight budget since it perfectly balances fashion and functionality. Mydesignation has a significant and expanding social media following and is already well-known for its dedication to excellence and client happiness.
