Beginning the start up in hostel room with a mere 30000 investment to aiming for 100 crore investment. Bewakoof has undergone a great change to become one of the best and successful startups in India. Bewakoof is one of the most popular lifestyle and clothing brand amongst youth today. The trendy fashion products are made available to customers at low prices. It is a lifestyle brand selling tees, mobile covers, shirts and comfort clothing.
Founders
Bewakoof Brands Private Limited was founded by Prabhkiran Singh and Siddarth Munot in 2012 with its headquarters in Mumbai, Maharashtra. The idea of t-shirt printing was originated as they wanted to add humor and fun to the college life. Founders began researching about the youth trends and lifestyle. They designed quotes which could be used for printing and soon Bewakoof came into existence. They started it during their IIT days, selling printed t-shirts but now it has become one of the most popular brands amongst the youth of the country.
The Story behind the Name
Bewakoof is Hindi word which means silly or one who doesn’t understands anything. Bewakoof adds cheerfulness to life making it less boring, more fun, less serious, less worrying and more hopeful. Company explains Bewakoof as a person who is free and acts according to himself not the social constraints.
The ‘Bewakoof’ Strategy
The company aims to provide affordable and high quality products. It catches people attention with its casual+ creative approach. The brand symbolizes cool products with style available at lower price to the customers which acquires a significant fondness among people and has a cool and funky approach across all social media platforms. Bewakoof devotes itself to youngsters and has got a tremendous support on social media platforms too. Many movies even have advertised Bewakoof’s merchandise. It caters the younger audience of 15-35 groups. Bewakoof tends to follow trends and this strategy is called ‘viral effect’ by many. Using viral and popular things to produce merchandise. It prints best and famous punch lines on t-shirts; Bewakoof has created an amazing presence among the youth. The brand launches designs based on the trends in lifestyle and fashion. It also is a keen listener and caters need of people by asking suggestions and inculcating ideas of millions of people.
Funding Model
Total Funding-$19.5M
Valuation-$70M as on Oct 05, 2019
Annual Revenue-$28.2M as on Dec 31, 2019
Bewakoof was started with an investment of INR 30,000. The company received funding in around 6 months of starting up. Founders raised angel funding via Kunal Bahl and Rohit Bansal, and Former IDFC Securities MD, Nikhil Vora. Bewakoof.com has received Rs 80 crore in a funds by Investcorp. Now, the Bahrain-based firm will have 14% equity share in Bewakoof.
Bewakoof – Investors
- Investcorp, New York, US
- Sixth Sense Venture, Mumbai, India
- IvyCap Ventures, Mumbai, India
- Texport Industries, Mumbai, India
The Secret sauce of success
Youth in India cover 33% of population in India. It is also said that India is the youngest country. But, youth oriented brands were limited in numbers earlier and even didn’t produce what the youth actually wanted. Bewakoof found this and came up with great clothing which the youth actually needed– comfy clothes, t-shirts with a blend of style was what the youth wanted and that’s what Bewakoof provided and even at reasonable price. Bewakoof creates amazing, light-hearted, fun, and quirky everyday outfits and other products with comfort. Anyone can buy them without burning holes in their pockets. Its unique name is eye- catching and like honey or honey-bees (people). Company’s strength lies in launching trendy and cool products for people’s needs, they attract people tremendously. Bewakoof also has COD(Cash on Delivery) and replacement options making it friendly platform for users.
Cat is out of the bag!- The advertisement strategy
Advertisements are very important for grabbing audience’s attention and the advertisement strategy adopted by Bewakoof was new and innovative and it also worked effectively. Shopping Cards worked as a great option and they got huge returns, apart from this YouTube has helped Bewakoof to reach and affect greater audience in order to become a prominent brand.
Competitors
Souled Store, Myntra, Ultykhopdi, Snapdeal etc. are competitors for Bewakoof.
Bewakoof is one of the best startup India. Bewakoof has grown from rags to riches. The creative and mind-blowing strategy and action plan along with being active on social media platforms which has most of youth crowd has helped Bewakoof lead the clothing brands. The varied content and brilliant campaigns allow Bewakoof to become the youth brand of the country.
By Urvi Shah , Maharastra
