Direct-to-consumer lifestyle socks company The Sock Street has concluded a new fundraising round for an undisclosed value. The company’s continued US $ 1 million valuation shows that the investor community supports its vision and growth strategy.
The Sock Street, which was founded by media sector entrepreneur Shobhit Gaur and is presently run by CEO Udit Mayor, has already made a name for itself in the market for lifestyle necessities. The brand’s latest investment will help it achieve its goals of product development, nationwide omnichannel access, and quick expansion.
“This new funding is a testament to the team’s unwavering pursuit of excellence and the growing trust investors and customers have placed in the company’s vision,” said founder Shobhit Gaur. The Sock Street is eager to move forward with its mission to establish socks as a universal representation of sustainability and individuality.
According to CEO Udit Mayor, the new investment will support design innovation, propel global expansion, and improve the Sock Street’s omnichannel experience. It also means that the company will be investing twice as much in product research and development, entering international markets, and developing hyper-local immersive retail experiences.
Fundraising at a US $ 1 million value is a gratifying time for The Sock Street, according to CBO Saurabh Srivastava. The company will use the money to improve its supply chain, increase its presence in international markets, and hasten the launch of new performance-driven, sustainable products.
The Sock Street’s distinctive brand strategy and dedication to upending the lifestyle essentials market have enormous potential, according to Anuj Dhingra and Manu Gulati, partners at Knit World Inc. The group’s enthusiasm, distinct vision, and emphasis on quality and innovation persuaded Knit World Inc. to join as a strategic partner.
