Gen Z apparel brand Outzidr bags Rs 30 Cr from Stellaris Venture Partners
Summary
Online fashion retailer Outzidr has raised Rs 30 crore in a funding round led by Stellaris Venture Partners to serve affordable and trendy outfits to Gen Z consumers.The round also witnessed participation from angel investors, including Ramakant Sharma (LivSpace) and Ghazal Alagh (Honasa Consumer).Founded by Nirmal Jain, Mani Kant Mani, and Justin Mario in 2024, the company went live with its D2C platforms earlier this year. It aims to reach Rs 100 crore of annualised run rate in the next 6-8 months.Outzidr, which focuses on offering occasion-appropriate dressing, relies on its flagship test-and-react model to bring the latest trends quickly to racks. Along with that, the capital infusion will also support its brand-building efforts and maintain inventory.While the brand currently sources its fabrics both domestically and from international markets, it plans to shift 90% of its manufacturing to India in the next two years. "Making the test-and-react model work at scale, requires strong foundational capabilities across demand sensing, product development and sourcing, and automated merchandising. It helps us offer trendier styles, probably first to market, with greater variety while staying commercially viable, which is essential," says Jain, who has over a decade long experience in the industry.Jain, who has had previous stints at Myntra, was the founding CEO of Styli, a Middle East-focused fast fashion brand and was responsible for scaling the business to Rs 800 crore in less than five years.