Udaipur-based direct-to-consumer (D2C) fashion brand Beyoung has secured an undisclosed amount as investment from Sheikh Tahnoon Bin Saeed Bin Tahnoon Al Nahyan’s royal office.
The brand plans to utilise the funds to strengthen its domestic market presence and increase its global reach by strengthening its omnichannel presence by opening 300 stores worldwide within three years.
Commenting on the investment, Zulfiquar Ghadiyali, executive director at the royal private office in a statement said, “We recognise the immense potential within Beyoung, especially in its strategic focus on reaching tier 2 and 3 cities globally. The strategic investment in Beyoung aligns with our long-term vision of supporting the Indian apparel industry and fostering the creation of international brands.”
Shivam Soni, founder CEO of Beyoung added, “Partnering with the Abu Dhabi royal family opens doors not only to the GCC and MENA regions but also paves the way for a global expansion strategy. This investment is a substantial backing that will enable us to grow multi-folds exponentially, reaching new heights on a domestic as well as international scale.”
Shivam Soni, Sakshi Soni, Shivani Soni, and Shankar Mali launched Beyoung in Udaipur in June 2018 to retail a mix of western and fusion style clothing. The business reported a revenue total of Rs 50 lakh for its first year of operations.
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