– Strategic Expansion: Bummer plans to strategically utilize INR 9.25 Crore funding to expand into Tier 2, 3, and 4 cities, bolstering its presence in emerging markets nationwide. – Diversified Revenue Streams/ Multi-Channel Offline Presence: Bummer aims to establish 10,000+ offline touchpoints across India in the next 5 years, leveraging Exclusive Brand Outlets, Multi-Brand Outlets, and Large Format Stores to create diversified revenue streams. – Team Development: A portion of the funding will be allocated to team expansion and skill development, enhancing workforce expertise to address market challenges and drive sustained growth.
Bummer, a young and fashionable innerwear company, announced that it has successfully raised 9.25 Crores in a Pre-Series A1 funding round. The funding spearheaded by Gruhas Collective Consumer Fund marks one of their first investments as a fund. Further strengthening the strategic support is the continued backing from Fluid Ventures, an established investor in Bummer since December 2022. This sustained commitment underscores the company’s promising growth trajectory.
This funding round is a pivotal step in positioning the brand as a formidable $100 million company within the next 5 years. Expecting to generate 50% of revenues from key cities like Ahmedabad, Indore, Hyderabad, Chandigarh, Bhopal, and Jaipur, the focus is on amplifying brand awareness and expanding into Tier 2, 3, and 4 cities across India. Emphasizing its steadfast commitment to establish a robust marketing foundation and an omni-channel brand presence through offline expansion, with 10,000+ touchpoints nationwide, including EBOs, MBOs, and LFSs, Bummer is focusing on sustainable growth to reach EBITDA breakeven within 12 months. It is actively seeking to recruit seasoned key management personnel (KMPs) to drive expansion into new channels, including offline retail.
While Bummer’s immediate focus remains on India for the next 24 months, the vision extends beyond borders, as it views South-East Asia and the Middle East as potential global markets for the product. The brand will conduct smaller, intermittent pilots in the global market to gauge potential opportunities. Currently, its global expansion efforts will be conservative, with less than 5% of the budget allocated to these pilots.
Sulay Lavsi, the Founder and CEO of Bummer, “We’re embarking on an elevating chapter for Bummer, and this Pre-Series A1 funding round marks a significant milestone in our journey. The
support and leadership from Gruhas Collective Consumer Fund and Fluid Ventures fuel our vision of expanding with a skilled managerial team. In an industry marked by minimal growth and dominated by a few major players for decades, we see ourselves as a disruptor of this category. Together, we are committed to propelling the brand’s growth with skilled teams, a strong trustful brand image and we’re set to revolutionize this stagnant category, elevating its fashion appeal along with sustainability.”
Commenting on the strategic investment in Bummer, Abhijeet Pai, Co-founder of Gruhas & General Partner- GCCF, expressed enthusiasm, stating, “Team Bummer has crafted a brand that resonates with the young at heart and comfort first consumer in a rapidly evolving domain: the underwear and loungewear space. Bummer is disrupting the longstanding monopoly held by a handful of players in the men’s underwear Category. We believe that Bummer’s innovative approach, coupled with its quality products and edgy new-age design is perfectly positioned to capture the Gen-Z market. With our first investment from the GCCF fund, we look forward to supporting brands that actively shape the future of their respective industries.”
Vijay Subramaniam, Founder and Group CEO of Collective Artists Network, emphasized the significance of the partnership, stating “At Collective Artists Network, we are committed to being the torchbearers of pop culture in India. Bummer’s approach resonates harmoniously with our ethos, and we firmly believe that the creator economy is poised for explosive growth. We are enthusiastic about
contributing to their narrative in the consumer space and shaping the future landscape of creative expression.”
With the newly secured funds, Bummer is ready for an exciting phase of growth, furthering its mission to provide comfortable, sustainable, and fashionable choices to its audiences.
