What Almo hopes to redefine the loungewear experience for men

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Once thought to be the sole responsibility of women, the world of shopping seems to be more diverse with men purchasing more products than they once did.

Abhishek Shah who has been in the male-focused space for more than a decade, believes that men are not naturally consumers. “They would buy something or the other now and then,” Abhishek Shah says.

This has changed.

Both Amazon as well as Flipkart have seen an increase in males shopping online, which is why it’s crucial that retailers take note of what men need and want. Abhishek along with his partners from Almo, a men’s loungewear company based in Gurugram. Almo intend to achieve precisely that, by reinventing the male’s important experience in wearing

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Prior to becoming the CEO of CarDekho, Abhishek founded menswear startup Fatise in the year 2011. The online marketplace let customers purchase brands from around the world like Ralph Lauren at a discounted cost. The company, however, didn’t take off for numerous reasons, not least of which was the fact that e-commerce wasn’t as popular back then like it is today.

In 2019, he founded Almo an undergarments for men and loungewear company along with Chhavi Bhardwaj who previously worked in marketing for Myra Medicine; and Muskaan Jain who is a third-generation entrepreneur from the listed textile company TT Ltd. PharmEasy’s Kshitij Ladia joined the company in June 2022.

At the point that the founders were prepared to release their product and had inventory, production and final-mile delivery in the right place, the pandemic took hold. Plans for launch came to a standstill.

However, once Almo Digital Private Limited, who manages the brand, began to roll out the products in June of 2020 the company realized that lock-in customers were searching for loungewear online in order to navigate through the COVID-19 lockdowns.

The buyers were also interested in trying new brands, leading to the rise and growth of numerous D2C brands, such as personal health brand MamaEarth Cosmetic brands SUGAR Cosmetics, and lifestyle products launched by boAT.

The Gurugram-headquartered firm, which began its journey with men’s underwear, went on to launch micromodal trunks.

Cotton outerwear would later be one of the company’s top-selling products.

Almo was soon expanding into the athleisure segment, a category that saw huge growth in the lockdowns for work-from-home days, with T-shirts and shorts.

The brand is currently delivering 15,000-20,000 items of clothing each month through online channels. Around 70 percent of their orders originate from their own website. The rest are purchased from Myntra or Amazon.

The brand is currently in the process of expanding its market presence. It is now selling in the US via Amazon as well as being accessible on Nykaa.

Almo claims that the company is increasing 20% month over month. It made one crore rupees in revenue during FY21. It will earn around 40-50 crore in FY22 and is aiming to achieve an annual revenue of 100 croreby the close of FY23.

The company has raised an initial funding round totalling $1.9 million from Inflection Point Venture and AngelList.

In search of an offline presence

As the world transitions into the post-pandemic phase, Abhishek and his team realize the importance of having a presence offline.

“When one is launching with a brand new, digital marketing is the best option. It can generate the demand and establish a presence for your brand. After a while offline is the option,” the founder says.

With more and more brands going online Digital marketing is becoming costly by the minute. While physical stores aren’t yet in the pipeline, Almo will start taking steps to make available offline stores before the end of this year.

According to an Technopak study according to a Technopak report, the Indian market for innerwear, which was worth around Rs 19,950 million as of 2014 is projected to expand by 13% and increase to the figure of Rs 68,270 crore in 2024.

Almo is currently competing in the market with Trifecta capital-backed XYXX Apparel and Bengaluru-based DaMensch and is owned by A91 Partners, and established brands such as Jockey and Rupa among others.

However, Abhishek states that the brand’s message distinguishes it from other brands. “We don’t just want to be an innerwear brand; we want to be a full-fledged men’s brand.”

Read more SUGAR Cosmetics raises undisclosed funding from Bollywood actor Ranveer Singh

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