With this investment, the company plans to enhance its omnichannel presence worldwide with plans to launch over 300 stores globally in the next three years
New Delhi: Udaipur-based fashion and apparel brand Beyoung has raised funds from the Royal Office of Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan, a release by the company said on Monday.
The Royal family has made significant investments in the global start-up ecosystem with sectors spanning across real estate, retail, genomics and deep tech, the release added.
With this investment, Beyoung plans to enhance its omnichannel presence worldwide with plans to launch over 300 stores globally in the next three years.
“The Strategic Investment in Beyoung aligns with our long-term vision of supporting the Indian apparel industry and fostering the creation of international brands. We believe in Beyoung’s potential to not only excel in the domestic market but also emerge as a global fashion leader,” said His Excellency Zulfiquar Ghadiyali, executive director – Private Office of Highness Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan.
Beyoung also aims to strengthen its market position, drive innovation in the fashion industry and continue to deliver high-quality affordable clothing to its customers with the investment.
“Partnering with the Abu Dhabi Royal Family opens doors not only to the GCC & MENA regions but also paves the way for a global expansion strategy. This investment is a substantial backing that will enable us to grow exponentially, reaching new heights on a domestic as well as international scale,” said Shivam Soni, chief executive officer of Beyoung.
Founded in 2018 in Udaipur, Rajasthan, Beyoung has grown from a venture by four entrepreneurs to a team of over 200, serving more than 3 million customers nationwide. With a current gross merchandise value (GMV) of Rs 150 core, the brand targets to achieve Rs 600 crore GMV in the next three years.
According to the details shared by the company, it has one store in Udaipur and three opening soon in Rajasthan.
