Gen Z women's fashion brand Outzidr raises $3.1 million in round led by RTP Global
Founded in 2024, Outzidr is an online clothing brand that caters to the needs of young women through its own direct-to-customer (D2C) platform. The brand is also present on e-commerce platforms like Myntra, Ajio, and Nykaa Fashion, as well as rapid delivery apps like Bengaluru-based Slikk Club and Mumbai-based Knot. 'It has been around five to six months since we went live, and in this short span, we have served over 125,000 customers. We are on track to do Rs 100 crore annualised revenue before the end of this year,' said Nirmal Jain, cofounder and chief executive of the Bengaluru-based company.Outzidr was founded by Jain along with Mani Kant Mani and Justin Mario, all of whom have a fashion and retail background and were associated with companies like STYLI, Myntra, and Max Fashion.'We're excited to back Outzidr—a team of seasoned operator-turned-founders with deep domain experience and a sharp understanding of Gen Z consumer behaviour,' said Pavitra Gupta, director at RTP Global, in a prepared statement.Outzidr had previously raised $3.5 million in a round led by Stellaris Venture Partners, and the current funding brings the total funds raised by the platform to $6.6 million.
'We invested when the company was at an idea stage last year and since then have seen firsthand how strong customer love has translated into high repeats,' said Mayank Jain, principal, Stellaris Venture Partners, in the statement. Fashion as a category is known for high return rates, and to solve this issue, Outzidr uses a 'test and scale' model to test small batches of their products and then double down on bestsellers.'Under our test and scale model, we produce a lot of new styles at very low inventory,' Nirmal told ET. 'It could be as low as 10 pieces, and we put it in our collection to see how the customers are reacting to it. We use the data of click rates, wishlisting rates, or adding-to-cart rates to forecast demand using our demand sensing engine.'Outzidr's competition includes Newme, Urbanic, Campus Sutra, and other brands that focus on western wear for Gen Z customers. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. As RBI retains GDP forecast, 4 factors that will test the strength of Indian economy
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