Off Duty Raises INR 4 Crores From Velocity

● Specialized denim brand Off Duty has raised financing from Velocity.in, India’s largest revenue-based financier.

● The brand will use the financing to scale up their inventory to cater to the increasing demand and meet their striving goal of achieving a revenue of over INR 25 Crores.

● Velocity.in leverages online data to offer non-dilutive, collateral-free growth capital to Indian D2C brands within 4 days.

Bengaluru, 6th March 2023: Premium apparel and fashion brand Off Duty has raised INR 4 Crores over multiple tranches from Velocity.in, India’s largest revenue-based financier.Off Duty was founded by Madina S Khan and Shahbaaz Khan in 2019 with a mission to cater to the street-style fashion trends for teens and early adults. The core products include everyday wear comfortable denims, pants & trousers along with the newly launched men’s denims. Since its launch a couple of years ago, this D2C brand has been reaching new peaks with a whopping revenue of INR 4.5 crores in the first year, and is set to close the current financial year at around INR 15 crores.

Off Duty is recognized for its global designs at affordable prices. Their innovative designs have paved the way for remarkable business growth. The brand has a strong presence across eCommerce platforms including their website. According to the founders, they strive to find the perfect balance between everyday comfort and hi-street fashion in young adults. The brand has established a strong foothold in the market, offering its customers high-quality fashion products.

Shahbaaz Khan, Co-founder of Off Duty says, “We began our fashion journey in the year 2013 with Madish, and saw an opportunity in the digital space and took it. We noticed a gap between the fashion trends in India and the international markets and sought to bridge that gap by providing fashion-forward products that people in India could buy.”

The founders started off with shoes and bags but soon stumbled upon trendy denims during their travels abroad. Initially, they imported a few designs from China, which sold out within a few days of launching, leading to an organic growth on Instagram, Facebook, and other channels. By 2016, they started manufacturing their designs locally and had investors on board by 2017.

In 2019, the company exited their previous venture and launched Off Duty. Even with the challenges posed by the COVID pandemic, the company continued to do well in terms of sales. In 2021, they launched tops and tunics, in addition to their denim and skincare line, Nicci.

Shahbaaz further added, “Off Duty’s success lies in its commitment to scaling with profitability. We keep our costs minimum and make changes to even the smallest expenses on a weekly or monthly basis. We have a small but efficient team who give their all to the company, and we did not lay off anyone during the pandemic. We refrain from discounted selling as we believe it does not provide value to customers. We want our clients to buy our products based on its quality and design, and not just indulge in impulse buying. We want our denim line to be a segment where people come back for different designs, and we have customers who bought from us three years ago and still trust our products.”

Speaking about the round of financing, Abhiroop Medhekar, CEO of Velocity, said. “We are excited to be partnering with Off Duty. The age group of 15-24 years old makes up a significant 18% of the Indian population. Many young adults in India are interested in fashion, and want to keep up with the latest trends. This can be seen through the growing popularity of young fashion influencers on social media platforms. We are confident in the founders and their approach to catering hi-street global fashion at affordable rates. We expect that this funding will pave the way for Off Duty to reach new heights and inspire emerging D2C apparel brands with their growth.

Off Duty is a brand that has made a name for itself in the fashion industry through its commitment to quality, design, and profitability. With its loyal customer base and innovative approach to fashion, the company is poised for continued success in the years to come. Their ‘Party Collection’, launched in December, is just one example of their innovative approach to fashion.