The company aims to reach Rs 500 crore in annual recurring revenue by 2026
Bengaluru:Â Udaipur-based fast-fashion brand Beyoung has clocked a revenue of Rs150 crore within five Years of its inception, the company said in a press release on Wednesday. The company aims to reach Rs 500 crore in ARR (annual recurring revenue) by 2026.
Beyoung has also raised funding of Rs 40 crore from Klub, a fintech company that enables revenue-based financing for startups. Since the funding, its monthly recurring revenue has grown 3 times. Furthermore, the brand has expanded its reach by delivering up to 25,000 pin codes across the country.
The company is using the funds to further expand the brand’s presence across the country with the opening of over 100 offline stores in tier II and III cities in 2023, the release added.
Beyoung was founded in June 2018 by Shivam Soni, Sakshi Soni, Shivani Soni, and Shankar Mali in Udaipur, Rajasthan and by the end of its first year, the retailer achieved a revenue of Rs 50 lakhs.
The fashion retailer currently offers roughly 30 categories and over 300 products, including men’s and women’s collections. Beyoung also plans to launch new categories and products regularly throughout the year.
Recently, Beyoung has introduced a new feature on its e-commerce application, named Shop the Look which presents complete outfit sets for consumers curated specifically for different occasions.
