Athleisure brand Aastey gets ₹10 crore funding from Kalaari Capital's CXXO
- The funding will help Aastey build its supply chain while setting the foundation for marketing
New Delhi: Women’s athleisure brand Aastey, which positions itself as an “inclusive" apparel maker, has raised ₹10 crore in seed funding from CXXO, a Kalaari Capital initiative.
The investment was backed by Kalaari Capital through its $10 million CXXO programme that seeks to back women entrepreneurs.
Aastey positions itself as an “inclusive" apparel maker offering athleisure clothing for varied body types. The brand was conceptualized during the lockdown in 2020 with founders, Jeevika Tyagi and Kanupriya Mundhra who spent over a year researching and developing products and shipping them to India at accessible price points. Its range includes sports bra and leggings offered in 16 sizes.
“Aastey’s mission is to change these damaging stereotypes and address the problem of body inclusivity. As of now, Aastey’s products are available in 16 different sizes, keeping in mind the variations in Indian body types. With the goal of being a 100% sustainable brand by 2024, aastey’s in-house fabrics are durable, breathable, and sourced ethically," the company said.
Athleisure and comfort clothing have seen increased consumer demand after two prolonged years of stay-at-home schedules. Consumers, on the other hand, are seeking more variety.
The funding will help the brand build its supply chain while setting the foundation for marketing.
“India is crowded with athleisure brands with no one focusing on the sustainability aspect. The country has a strong ecosystem for homegrown direct-to-consumer brands and there is a huge demand for high-quality athleisure wear in our country. We even pay a premium to ship global brands to the country, because of a lack of domestic supply," says Jeevika Tyagi, Co-founder and CEO, Aastey.
The founders said that performance wear in India has traditionally catered only to a certain body type, not only excluding a majority of women but also perpetuating body image issues.
Technological innovations in fabrics and the body-positivity movement are spurring demand for athleisure products, a trend that we believe will fundamentally change women’s fashion, said Vani Kola, Managing Director, Kalaari Capital.
In 2022, Aastey will focus on building and engaging with its growing community.
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