Streetwear Aggregator Crepdog Crew raises seed funding
- ByStartupStory | January 11, 2023
Crepdog Crew (CDC), India’s largest streetwear aggregator, has raised an undisclosed amount in seed round funding from marquee investors and industry veterans including Rahul Kayan (Director, SMIFS Ltd); Harminder Sahni, founder Wazir Advisors and one of India’s earliest angel investors; fashion designers Masaba Gupta and Nikhil Mehra, Pharmeasy co-founders Dharmil Seth and Siddharth Shah and chairman Yogesh Shukla, and Ankit Solanki, angel investor, and partner Capillary Ventures.
The sneaker sector in India has been one of the fastest growing sectors in India. India’s sneaker market share is currently growing at 12-15 percent and is expected to catch up to the $6 billion global sneaker market – a fact that investors have taken note of.
Yogesh Shukla, Chairman PharmEasy said, “The Indian sneaker market is literally going places and CDC being a marketplace will continue to play a larger role by helping resellers and fulfilling the demands of sneakerheads. But what gives CDC an edge is their curation and support of young talented designers on their online platform, and in-store. This combination of sneakers and fashion makes it a very exciting proposition to be invested in.”
Since its inception in 2019, the brand has grown by 350 percent year on year and plans to expand its reach by opening more stores across the country. Crepdog now receives over 6 lakh visitors per month and delivers over 500 pairs of sneakers per week to customers across India, establishing itself as a profitable multi-crore business and India’s one-stop shop for everything sneaker and streetwear related.
Crepdog Crew was founded in search of a pair of the coveted Yeezys, and it is now the country’s most trusted sneaker and streetwear aggregator, with a turnover of Rs 25 crore. Anchit Kapil, Bharat Mehrotra, and Shaurya Kumar, friends and co-founders, saw a gap in the market and created a platform that can be relied on for product authenticity and accessibility for all.
Anchit Kapil, Co-founder and CEO Crepdog Crew said, “Our commitment to providing enthusiasts authentic products and the best Indian streetwear designs within the best shopping experience is what drives us and has seen us become a one-stop shop for the community. This investment is an exciting next step for the brand. It gives us the impetus to continue our mission which is to reimagine the convergence of community and sneaker and streetwear culture and lifestyle.”
Since 2019, CDC has grown from an Instagram page to a website to a 6,000 square foot flagship store in New Delhi, CDC Experience, which houses the biggest sneaker wall in India, the largest collection of Indian streetwear designers, a basketball court, a craft coffee café, Brisk, and even a burger shop. Plans for 2023 include the opening of CDC’s second experiential retail store in Mumbai within the next three months.
The company emphasizes on curating and nurturing homegrown streetwear fashion talent. CDC currently sells over 40 streetwear brands on its website and exclusively sells 20 brands at its flagship store.
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