Men’s Clothing Brand Chromozome raises INR 30 crore from TIW Private Equity
- ByTejika Bajaj | December 22, 2021
TIW Capital Group’s TIW India Buyout Fund has invested Rs 30 crore (around $4 million) in Huechem Textiles Private Limited (HTPL), to which the brand Chromozome belongs.
As per reports and subsequent statements given by the company, Huechem is likely to utilize the freshly infused funds from TIW for growth focus through its line extension in product categories, building new channels and expansion into new geographies.
TIW India Buyout Fund said it has acquired a ‘significant stake’ in the company, without specifying how much. TIW said it will partner with Huechem on growth strategies and bring operating efficiencies, and help Huechem scale further, revealed a statement.
“We are very excited to partner with Huechem in its journey towards steady growth in the online space. The industry is expected to grow in double digits, with online channels leading to new adoption, which is the platform that the company intends to focus on,” said Mohit Ralhan, Managing Partner and Chief Investment Officer of TIW Capital Group.
Founded by Vipan Mehra and Vineet Mehra, the company manufactures, distributes, and markets men’s everyday wear products under the brand Chromozome. Other companies that have similar products include Page Industries, Dollar Industries, Lux Industries and Rupa & Co.
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