The retailer is targeting to raise $1.5 million from family investment groups, high net worth individuals (HNIs) and startup venture capitals (VCs)
Bengaluru: Mumbai-based outdoor clothing and gear brand Gokyo is seeking to raise funds through angel investments in the fourth quarter (Q4) of this fiscal year, with the goal of rapidly expanding both its online and offline presence, a top company official told IndiaRetailing.
“Since Gokyo’s launch two years ago, we have successfully built our product range and received positive customer feedback. Recognising the strong growth potential in the outdoor lifestyle segment, we are now planning to raise funds through angel investments,” said Venkatesh Maheshwari, founder of Gokyo.
The retailer is targeting to raise $1.5 million from family investment groups, high net worth individuals (HNIs) and startup venture capitals (VCs). It has appointed a financial advisor to assist in raising the funds.
The purpose of raising funds is to open 10 outlets nationwide by FY26, after which it will pursue a VC-backed Series A funding to support further national expansion, with a goal of opening 100 stores. The company also intends to broaden its outdoor lifestyle range and enter the athleisure market.
Upcoming stores of Gokyo will be located across Mumbai, Bengaluru, Pune, Delhi NCR, Hyderabad, and Kolkata. In November this year, the brand will open its 10th store in the country located in Mumbai.
In addition to selling on its own website, www.gokyo.in, and Amazon, the brand plans to expand its online presence by listing on other platforms such as Ajio, Myntra, and Nykaa Fashion.
Gokyo was launched as an online-only brand in 2022, later expanding into offline retail with its first flagship store in Mumbai in April 2023. Currently, the brand operates nine outlets across Mumbai, Bengaluru, West Bengal, and Srinagar, offering over 150 SKUs across outdoor apparel, accessories, gear, and footwear.
The direct-to-consumer (D2C) brand is also eyeing to become a Rs 100 crore plus brand in the next five years and also intends to achieve at least triple growth annually. Read more about its expansion plans here.
