Bear House Clothing Pvt Ltd has raised a total of ₹50 crore in a Series-A funding round led by JM Financial India Growth Fund III. The company said it will use these funds to drive offline expansion, support working capital requirements and bolster its branding and marketing initiatives. This marks the eighth investment by JM Financial India Growth Fund III.
The Bengaluru-based contemporary men’s apparel and accessories brand offers a range of premium casual workwear — from shirts and t-shirts to denim and footwear. It primarily sells online through its own website and app, and marketplaces such as Myntra, Ajio, Flipkart, Nykaa, Tata CliQ and Zept. It opened its first physical store in Bengaluru in March and plans to launch around 20 stores across India over the next two years.
Expansion plans
“We are optimistic about the growth of India’s online branded apparel market, especially in the men’s business-casual and casual workwear segment. The Bear House has demonstrated impressive growth by leveraging its unique design sensibilities and direct-to-consumer strategy to build a loyal customer following. With rising demand for high-quality, stylish menswear, we believe The Bear House is well-positioned to become a prominent men’s wear brand in the country,” said Siddharth Kothari, Managing Director – Private Equity, JM Financial.
“This growth capital infusion and partnership with a fund like JM Financial India Growth Fund III will help us accelerate our expansion plans and strengthen our brand’s presence. We have always been committed to delivering premium quality and contemporary designs to our customers. As we scale our offline footprint and invest in brand-building, we remain focused on staying true to our design philosophy and deepening our connection with customers. We aim to make The Bear House a go-to brand for men’s fashion across India,” said Harsh Somaiya, Co-Founder, The Bear House.
Dexter Capital was the exclusive advisor to The Bear House on the transaction. “The Bear House has been focusing on catering to this segment, while maintaining quality and affordability. Having built a ₹150-crore-plus online brand while staying bootstrapped and profitable is a testament to Harsh’s manufacturing expertise and Tanvi’s design skills. We are glad to be a part of the team’s journey toward being a leading men’s wear brand.” said Anuradha Agrawal, General Partner, Dexter Ventures.
