Off Duty Raises INR 4 Crore From Velocity
The brand will use the funding to scale up their inventory to cater to the increasing demand and meet their striving goal of achieving a revenue of over INR 25 crore
By Teena Jose •
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Premium apparel and fashion brand Off Duty has raised INR 4 crores over multiple tranches from Velocity.in, India's largest revenue-based financier. The brand will use the funding to scale up their inventory to cater to the increasing demand and meet their striving goal of achieving a revenue of over INR 25 crore.
"We began our fashion journey in the year 2013 with Madish, and saw an opportunity in the digital space and took it. We noticed a gap between the fashion trends in India and the international markets and sought to bridge that gap by providing fashion-forward products that people in India could buy," said Shahbaaz Khan, co-founder of Off Duty.
Off Duty is recognized for its global designs at affordable prices that has a strong presence across ecommerce platforms including their website. Since its launch a couple of years ago, Off Duty has been reaching new peaks with a whopping revenue of INR 4.5 crores in the first year, and is set to close the current financial year at around INR 15 crores, claimed by the company in a statement.
"We are excited to be partnering with Off Duty. We are confident in the founders and their approach to catering hi-street global fashion at affordable rates. We expect that this funding will pave the way for Off Duty to reach new heights and inspire emerging D2C apparel brands with their growth," said Abhiroop Medhekar, CEO of Velocity.
Off Duty is an Indian e-commerce brand that was founded in 2019 by Madina S Khan and Shahbaaz Khan. The brand aims to bridge the gap between the Indian and international fashion markets by providing customers with edgy, high-quality products that are affordable and unique.
