Women’s activewear brand BlissClub has raised $2.25 million in seed funding led by Elevation Capital. The round also witnessed participation from Neeraj Arora, ex CBO, WhatsApp; Kunal Shah, Founder, CRED; Rahul Mehta, Managing Partner, DST; Pam Lee, Ex-Lululemon Executive; Ashish Goel, Founder, Urban Ladder; Chakradhar Gade, Founder, Country Delight; and Good Capital.
According to a statement released by Elevation Capital, the freshly raised funds will be utilized towards strengthening and expanding the team, product development, and marketing.
Established in 2020 by Minu Margeret, a national-level Ultimate Frisbee player, BlissClub was launched to design activewear especially for Indian women.
Minu Margeret, Founder, BlissClub said “I always struggled to find good quality activewear in India – uncomfortable plastic like material, poor sizing, and impractical designs. Ankle-length leggings were always churidar bottoms for me, sized to the height of western women. Most activewear brands in the country are largely focused on men, leaving very limited options designed specifically for Indian women. From low-quality material to poor sizing and inappropriate designs, we [Indian women] had to make do with whatever we could find. Not anymore.”
She added that BlissClub was a community before they rolled out the product.
“Through our community, we want to enable women to come together and move and live an active life. Apart from conducting various events and fitness challenges, BlissClub is a safe space for women to share, motivate and discuss their fitness journey with each other,” adds Minu.
The statement added that activewear as a market in India is observing a constant growth in revenues. It added, internationally, Lululemon is a $45 billion company built on targeting the active lifestyle of women. BlissClub strives to seize that space in India.
Speaking about the development, Chirag Chadha, Associate Vice President, Elevation Capital, said “Activewear has found massive adoption across the globe over the last two decades. Today, it has captured more than 20 percent of the total apparel sales. In India, however, activewear has less than three market shares. Further, the size of women’s activewear is 4-5X lower than men’s activewear today. Given the varied body types, weather conditions, and individual sensibilities and preferences in India versus the west, Minu has identified a big product gap in the space.”
Minu added, “India is the world’s fastest-growing activewear market with the women’s segment contributing to a majority of the growth. While there has been an increasing awareness about health and fitness among women in the recent past, the current pandemic has accelerated the growth in the women’s fitness space. The new round of funding will be utilized in building our team and strengthening our product and marketing strategy to cater to the growing needs of activewear for women.”
BlissClub has identified an important gap in the market and is competing fiercely with its competitors. The company seems to have a bright way ahead. My best wishes to the team of BlissClub.Shishir Gupta, Founder and CEO, StartupLanes
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