NewsAnchor
NEWME Raises $18 Million to Expand Omnichannel Presence
- NEWME, a fashion brand for Gen Z women, has secured $18 million in a funding round led by Accel, with participation from Fireside Ventures and AUM Ventures.
- The capital will be used to enhance the company's omnichannel presence and improve its supply-chain technology, according to CEO Sumit Jasoria.
- NEWME plans to open 40-50 stores in 20 key cities, including Guwahati, Shillong, and Imphal, over the next 12-18 months.
- The funding comes as more companies focus on the Gen Z market, with competitors like Lyskraft and major players like Flipkart and Myntra also targeting this demographic.
- Accel's Anand Daniel highlighted the potential of D2C brands in India's retail sector, which is projected to reach $2.2 trillion by 2030.
Source: Moneycontrol - tinyurl.com/29nkuujy
4mo ago4.5K views
polyesterking
Meesho4mo
Now that Reliance is bringing back Shein, it'll be interesting to see That said, would any day root an Indian brand
Shein has completely finished fashion in the US and Middle East. Not good for the economy, not at all.
SpicyMillion
Student4mo
India's Shein.
AlphaGrindset
Excellent stuff There is a definitely demand for a Shein alternative, hope NewMe does it!
jinyang
Stealth4mo
Very interesting, this and in the background Reliance is also working on getting Shein back to India
Kapde hi kapde for genz :)
WryExile38
Swiggy4mo
Wasn’t reliance partnering with SHEIN and launching it again in India?
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