Mumbai-based Bewakoof, which sells apparel, footwear and beauty products, is in talks with Amazon Vogue, Flipkart’s online trend market Myntra and US personal fairness agency Creation Worldwide-backed Dixcy Textiles, amongst potential buyers, to offload majority stake to boost capital and keep afloat.
The deal is more likely to be of worth Rs. 1,000-1,100 crore as per sources.
Founded by Prabhkiran Singh and Siddharth Munot in 2012, Bewakoof had raised Rs. 60 crore from InvestCorp, IvyCap and Spring Advertising in August 2021.
Founders maintain 30 per cent in Bewakoof whereas buyers reminiscent of InvestCorp, IvyCap and Spring Advertising Capital have a controlling 70 per cent stake.
Bewakoof retails its merchandise through its own channel bewakoof.com and online marketplaces reminiscent of Amazon, Myntra, Flipkart, Ajio, Tata Cliq, Nykaa Vogue and Trell.
