Mohit Gupta, Founder and CEO of Coyu, delves into the brand’s vision for consumers, its revenue model, in-store innovations, forthcoming expansion plans, and more
Bengaluru: Coyu is a fresh entrant among zillion fashion retail platforms in India, carving out a niche space, targeting the mid-premium category.
This multi-brand fashion and lifestyle hub was established merely four months ago by industry stalwarts Mohit Gupta, Co-Founder of Zomato and former COO of MakeMyTrip, alongside Mukesh Bansal, Founder of Myntra and Cult.fit.
The brand name ‘Coyu’ stems from ‘curated for you’ and ‘collected for you,’ encapsulating its commitment to offering a thoughtfully curated collection of premium fashion tailored for modern women. Since its inception in October 2024, Coyu has onboarded over 50 national and international labels.
Launching its first two retail outlets in Delhi alongside its D2C website on the same day in October, the company has recently unveiled its flagship store at the IREO complex in Gurugram, boasting 6,000 sq. ft. of carper area.
Now poised for 360° expansion, Coyu is strategising the rollout of more stores across India while simultaneously fortifying its brand portfolio and cementing its stature as an omnichannel retail platform.
In an exclusive interview with IndiaRetailing, Mohit Gupta, Founder and CEO of Coyu, delves into the brand’s vision for consumers, its revenue model, in-store innovations, forthcoming expansion plans, and more.
Edited excerpts…
With thousands of fashion retailers already in the market, what makes Coyu a necessary addition?
Over the past decade, the fashion and lifestyle retail industry—particularly online—has seen impressive growth. However, we believe that the premium fashion segment for women remains an underserved space.
Women’s fashion differs fundamentally from men’s fashion, involving a greater variety of silhouettes, diverse textiles, intricate surface detailing, and considerations around body shapes, fit, modesty, and boldness. This makes it a highly complex product category.
Moreover, women often share a deeply personal and intimate connection with their fashion choices. Many existing retail solutions fail to effectively cater to this complexity.. While mass-market and luxury fashion are well-represented in India, the mid-premium category—priced around twice that of Zara and similar brands—remains a white space.
Also, the process of discovering, exploring, and purchasing them in a seamless way is still lacking. A solution that enhances both the shopping experience for customers and cost efficiency for brands does not yet exist—and that is precisely the gap we aim to fill.
How much initial capital have you invested in the business?
We secured approximately $26 million in funding around mid-last year from four investors including Prosus Ventures, Peak XV, and Sofina, along with several angel investors.
Could you name some of the brands available on your platform?
Our platform features over 50 brands, including eight international labels and a range of Indian brands. Some notable global names include Karen Millen and Sister Jane from the UK; DKNY from New York; Salsa Jeans from Portugal; and Bunka and Sylvian Heach from Italy.
On the domestic front, we showcase Saaksha & Kinni, Karaj Jaipur, Silai Studio, Rainas, Sheetal batra, Our Love, Dash and Dot, and Linden Bloom among others.
On what criteria are you selecting brands for your roster?
We have conducted in-depth research to understand the wardrobe needs of our target customers—women aged 30 to 50. Our analysis covers their fashion preferences, the current market landscape, and which brands offer the best combination of style, quality, competitive pricing, and frequent new arrivals.
Based on these insights, our curation and merchandising teams reach out to various brands. We then conduct sampling, assess quality, and test these brands in our stores and pop-up events. Customer feedback plays a major role in determining which brands we establish deeper partnerships with and feature in our stores.
Are you primarily focusing on Indian brands or global brands?
We are incredibly proud about the Indian fashion and design ecosystem, which is rich in creativity, heritage, textiles, and craftsmanship. Indian designers also have a deep understanding of local body types and climate, making them well-suited to cater to domestic fashion needs. As a result, the majority of our brands are Indian, and we intend to keep it that way.
However, we also recognise that Indian women seek global styles and trends. To bridge specific gaps in the market, we are introducing select international brands in categories where they excel. For instance, fashionable outerwear and winterwear, distinctive party wear, and well-fitting jeans designed specifically for women rather than as an afterthought. In these areas, global brands often offer superior options, and we actively seek out the best ones to bring to India.
How many brands are you planning to launch on the platform this year?
By this time next year, we aim to have over 100 brands on our platform. While we have the opportunity to onboard many more, we are highly selective in our curation process. Our focus is on ensuring that customers are not overwhelmed with excessive choices but instead have access to a thoughtfully curated selection.
What are the specialities of Coyu’s new flagship store?
Our flagship store is designed to be an immersive experience and it features over 50 brands under one roof.
We offer personalised services such as a personal shopping lounge and in-house stylists who assist customers in selecting outfits based on their body type and fashion preferences. The store also has a gourmet coffee cart serving coffee and small bites, elevating the overall shopping experience. Additionally, we provide real-time fittings, customisations, and alterations, along with made-to-order services for select brands.
We plan to regularly host events, reinforcing our belief that fashion plays a key role in shaping and influencing culture. We aim to actively engage with consumers who not only shop for fashion but also create and consume fashion-related content.
Please elaborate on your ‘try at home’ feature…
We have identified two key customer segments that we cater to. One group consists of socialites and homemakers who have the time to enjoy shopping in-store. The other segment includes busy professionals—entrepreneurs, doctors, lawyers, and corporate executives—who want to dress well and express their style throughout the week but don’t always have the time to visit malls for shopping.
For them, we have introduced a service called ‘try at home’. Customers can either visit our website or connect with a stylist at our store, share their requirements, or select a few outfits. A stylist will then bring these selections to their home, assist them in trying on the outfits, and offer styling advice. They will also take measurements if needed, ensuring a perfect fit. Any necessary alterations will be done, and the tailored outfits will be delivered back the same day.
This service is available across the entire Delhi NCR, and as we expand our retail footprint, we will begin offering it in other cities.
How many cities Coyu covers for online delivery?
We currently cover around 14,000 PIN codes, ensuring that each location we serve offers quality delivery, cash-on-delivery options, and return pickup services. While we do plan to expand further, our current focus is on depth rather than breadth.
Will your future focus be more on offline retail or online expansion?
If we execute our strategy effectively, we anticipate a balanced 50-50 split between online and offline sales in the long run. However, given the nature of this category—where experiencing the product firsthand, feeling the fabric, and ensuring the right fit are crucial—we expect offline sales to initially outperform online. Over time, we believe both channels will contribute equally.
Are there any plans to foray into other categories?
Our primary focus will remain on womenswear. Within this space, we will continue to expand our offerings—currently, we feature apparel and accessories, but we plan to delve deeper into accessories and gradually introduce footwear and other lifestyle segments as well.
What are your expansion plans for 2025?
For 2025, our focus is on opening around seven to eight stores in top tier-1 cities while refining and validating a model that works for both our customers and our business. Once we have that in place, we plan to scale more aggressively starting in 2026.
Do you prefer malls or high streets to open stores?
We believe our customers shop in both malls and high streets, so we plan to establish stores in both formats. For a new brand, malls offer the advantage of existing footfall and quick exposure to a broad audience, which is something we want to leverage. That’s why our first two stores are in malls. Our third store, however, is located in Grandview High Street, which offers a more premium, open-format shopping experience.
Are there any obstacles you are currently facing in the fashion business?
There are numerous challenges, as with any startup, especially when creating a platform that differs from existing models. Working with smaller brands presents difficulties, as some lack well-organised product catalogs, high-quality photoshoots, or efficient inventory management.
Moreover, finding and retaining skilled retail staff who are both knowledgeable about women’s fashion and trained in hospitality is a challenge. Developing the right services and technology for this category is another hurdle. Many existing technology solutions in the market cater to the mass segment, leaving a gap in the premium space. As a result, we are building many of these capabilities in-house to ensure our platform meets the highest standards.
What are your top strategic priorities for Coyu?
We aim to create a platform similar to Zomato or Airbnb but for fashion—where exceptional brand creators can connect with customers, and shoppers can discover quality brands that may not be large but have a distinct identity, craftsmanship, and quality. If we succeed in building this, it will not only expand the market but also provide a clear path to rapid financial scale and success.
For now, our priority is not just financial growth but rather developing an efficient model—one that optimises brand partnerships, inventory, and operational costs while delivering customer experiences that foster loyalty and advocacy.
As we move from 2025 to 2026 and accomplish our foundational objectives, we will begin focusing on more ambitious expansion strategies.
