MUMBAI: The Bear House, a Bengaluru-based contemporary menswear brand, has secured Rs 50 crore in Series A funding led by JM Financial India Growth Fund III, as it prepares to claw its way deeper into India's competitive fashion landscape.
The sartorial upstart, which has built its reputation on "elevated core" menswear for young professionals who need versatile attire that transitions seamlessly from boardroom battles to evening revelry, plans to use the investment to expand its brick-and-mortar presence, shore up working capital, and beef up marketing efforts.
Having conquered the digital sphere through its own website and major fashion marketplaces including Myntra, Ajio, Flipkart and Nykaa, The Bear House recently opened its first physical outpost in Bengaluru last month. With fresh capital now in its coffers, the brand aims to unleash approximately 20 additional stores across India over the next two years.
"We are optimistic about the growth of India's online branded apparel market, especially in the men's business-casual segment," said JM Financial managing director, private equity Siddharth Kothari. "The Bear House has demonstrated impressive growth by leveraging its unique design sensibilities and direct-to-consumer strategy to build a loyal customer following."
For a company that has thus far ruled exclusively in the digital realm, the push into physical retail represents a significant evolution in its growth strategy. Founded in 2017, the brand has cultivated a reputation for chic, uncluttered designs catering to urban professionals who want to look sharp without appearing trussed up.
"This growth capital infusion will help us accelerate our expansion plans and strengthen our brand's presence," said The Bear House co-founder Harsh Somaiya. "As we scale our offline footprint and invest in brand-building, we remain focused on staying true to our design philosophy."
Perhaps most impressive is that The Bear House has managed to build a Rs 150 crore+ online brand while remaining bootstrapped and profitable—no small feat in an industry where red ink often flows as freely as champagne at a fashion week after-party.
Dexter Capital served as the exclusive advisor on the transaction, with its investment arm, Dexter Ventures, also participating in the funding round.
"Today's young professional consumer is looking for a stylish persona at work and outside without compromising with comfort," noted Dexter Ventures general partner Anuradha Agrawal, adding that the company's success stemmed from Somaiya's manufacturing expertise paired with his co-founder Tanvi's design skills.
