KL Rahul, an Indian cricketer, has invested in Surat-based men’s apparel brand XYXX for an undisclosed sum. Rahul has also become an ambassador for XYXX as a result of this investment. According to the statement, XYXX intends to expand its online presence as well as geographically in previously untapped markets.
Yogesh Kabra reportedly founded XYXX in 2016 as a hip, millennial-first men’s lifestyle label. XYXX has strived to create products that challenge the status quo in the innerwear segment since its inception, with innovation, craftsmanship, comfort, and customer experience serving as true north.
The product range includes innerwear, loungewear, and athleisure, and it is aimed at young, discerning Indian men. “I’ve been wearing XYXX for a while now and have closely followed their growth over the last few years,” Rahul explained.
“I am thrilled to be a part of their journey as they reach new heights.” XYXX’s attention to detail, ideology, and ethos, all backed by innovation that shows in their exceptional product range – all speak for themselves and have been nothing short of extraordinary.”
He stated that he sees a lot of potential in the XYXX team. “I am confident that, in time, XYXX will be a frontrunner as one of the most popular men’s lifestyle brands of our generation!”
“KL Rahul is an Indian cricket sensation who has always let his hard work and accomplishments speak for themselves.” He personifies the brand belief of following your instincts. “In addition to being a world-class athlete, KL Rahul is the perfect embodiment of the young, discerning Indian man who keeps it real, both on and off the field,” Kabra said.
“We couldn’t have chosen a better person to be our first-ever brand ambassador.” We felt a connection with KL Rahul the moment we met, and we are thrilled to be collaborating with him to challenge the status quo, tell our own unique story, and continue to be the brand that pushes the envelope in the Indian innerwear segment and beyond.”
XYXX received Rs 30 crore in Series-A funding from Sauce.VC, DSG Consumer Partners, and Synergy Capital Partners in June 2021.
XYXX claims that its omnichannel approach has been critical to its success in Tier 1, 2, and 3 markets, resulting in a 100 percent year-on-year growth.
XYXX is currently on its way to increasing its physical presence to 19,000 touchpoints by September 2022. In addition, XYXX sells on 14 major digital marketplaces, including Amazon, Myntra, and Ajio, as well as their own website.
According to SMIFS Industries, some of the largest players in the segment in India are PAGE Industries, Lux Industries Ltd, Dollar Industries Ltd, and Rupa & Company Ltd. According to the study, the Indian innerwear market was valued at 320 billion in 2018, and is expected to grow at an 11 percent CAGR over the next ten years to $897 billion by 2028.