Indian youth fashion brand, Styched, recently launched in the UAE. The affordable fashion brand, which boasts of a unique Zero wastage and Zero inventory model, aims to be the one-stop value fashion shopping destination for online shoppers in the Middle East.
Sensedynamic Fashions, the company that owns the brand Styched, have set up manufacturing units, warehouse and shipping hubs in Sharjah / Dubai and plans to expand its vendor network of fabric manufacturers, tailors and apparel designers across UAE. The company, operating through their website in UAE, will cater to customers across the Middle East and North Africa.
Styched launched in India in Feb 2019 with their website and Styched App has grown multi-folds in the last couple of years. From Tshirts and Joggers, the company now has more than 25 categories ranging from Topwear, Bottomwear, Athleisure, Footwear and Ethnic to name a few. The company, headquartered in Bangalore, has scaled up to an 8 million USD valuation with 2 rounds of funding to date. With a vision to become the number one affordable youth fashion brand globally, Styched looks to further expand its footprints in the coming years.
"We have shown 5X growth in the last few months, post lockdown, and felt that this is the right time to go aggressive on our growth plans. Despite the pandemic and the stop-start mode of operations, we have been able to achieve our planned revenue targets. We are looking forward to being operationally profitable by December 2021 in India. We view UAE as a high potential market for fashion eCommerce and we bring capabilities to cater to the modern youth with unlimited affordable designs.", one of the senior members at Styched said. Styched will be available only through their website and app in UAE, like Styched India. They plan to launch the app for UAE by June end. The website is live and taking orders.
Ecommerce in UAE is projected to be at 27B USD by 2022, with 10 per cent of that number owned by Fashion. Fashion eCommerce is expected to show an annual growth rate (CAGR 2021-2025) of 11.86 per cent. The highly untapped market in UAE along with the predominance of ex-pats among fashion eCommerce shoppers, make it a lucrative destination for affordable brands like Styched.
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( With inputs from ANI )
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