Cricketer Yuvraj Singh-promoted fund YouWeCan is venturing into the fast-moving fashion casualwear space under the YWC (YouWeCan) label.
YouWeCan has inked a deal with listed apparel maker Suditi Industries, which makes apparel for music and football leagues FC Barcelona and Manchester City FC, for its clothing venture.
The plan will involve setting up offline and online stores to sell the fashion line, Suditi chairman and managing director Pawan Agarwal told ET. “The brand YWC will be focused on premium fashion. Premium celebrity merchandising is a wide open space,” Agarwal said.
The deal was signed last week and details of the fashion line are in the process of being fine-tuned, but will include high-fashion lines for men, women and children. The deal involves Suditi designing and manufacturing exclusive lifestyle and fashion apparel.
Amazon, which has over two million fashion products now, is exclusively bringing in fashion brands Aeropostale, Bjorn Borg, Drunknmunky, Replay and Rockland. Myntra Fashion’s deals include Timberland, Parfois, The North Face, Silvian Heach and Jeep.
Steep overhead costs including those of real estate, lack of infrastructure and loopholes in regulations had led to several fashion brands opting only for launching their brands online.
YouWeCan Ventures, the fund Singh floated last year in April, has invested in multiple startups across healthcare, sports, beauty and fashion, food and travel, among others. The fund expects to raise close to Rs 300 crore from investors over a three-year window