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One of the lifestyle brands which deals in women’s activewear BlissClub has raised $22.25 million in its seed funding. It was led by Elevation Capital. The existing investors are Neeraj Arora, Kunal Shah, Rahul Mehta, Pam Lee, Ashish Goel. Chakradhar Gade, and Good Capital. It also participated in the funding round.
The company was founded in 2020 by Mini Margeret. Designs activewear mainly for Indian women.
The company stated that the funds will be used to grow the team product development and its marketing.
Talking about the product range then it is launched with the ultimate leggings aimed at resolving issues in women’s activewear especially in terms of The right fit function and its fabric.
The founder Mini Margeret is an ISB Hyderabad element which has previously worked on building brands with PhonePe and Ab InBev.
Till date the company has built a strong community of over 15,000 women across Instagram and WhatsApp.
Meanwhile the Founder said that- “I always struggled to find good quality activewear in India – uncomfortable plastic like material, poor sizing and impractical designs”. She added- “I always struggled to find good quality activewear in India – uncomfortable plastic like material, poor sizing and impractical designs”.
The Founder states that India is the world’s fastest growing activewear market, with the women’s segment contributing tremendously to most of the growth.
With the ongoing covid-19 pandemic there has been seen increased awareness about health and fitness among women which directly increased the need for active wear.
If we talked about the market structure then the active wear market in India has witnessed a steady growth in terms of revenues and growth. The market so hires participation of women and others in sports activities to promote fitness and health.
One of the reports by researchers shows that the presence of counterfeit activewear products acts as a major restraining factor for the market.
One investor said- “Furthermore, the size of women’s activewear is 4-5X lower than men’s activewear today. Given the varied body types, weather conditions and individual sensibilities and preferences in India versus the west, Minu has identified a big product gap in the space”.
