Mumbai: TIW Capital Group’s TIW India Buyout Fund (TIW PE) has invested up to INR 30 Cr in Huechem Textiles Private Limited (HTPL) by taking a significant stake. Founded by Mr. Vipan Mehra and Mr. Vineet Mehra, the Company manufactures, distributes, and markets Men’s everyday wear products under the brand “Chromozome”. Other companies that have similar products include Page Industries, Dollar Industries, Lux Industries and Rupa & Co.
TIW will partner with Huechem on growth strategies and bring operating efficiencies. TIW India Buyout Fund’s track record of investing in “FRICT” * businesses and supporting them on their growth journey, will help Huechem to scale further. The Company is focused on Middle-level and Premium segments of the industry which is expected to account for 46% of Men’s innerwear market. A well-known brand with an established presence and high brand recall amongst customers, the Company has a strong presence across the country through distribution networks, large format stores and online marketplaces.
Mr Mohit Ralhan, Managing Partner and Chief Investment Officer of TIW Capital Group said, “we are very excited to partner with Huechem in its journey towards steady macro with growth potential in the online space. The industry is expected to grow in double digits with online channels leading new adoption, which is the platform that the company intends to focus on”.
“TIW India Buyout Fund believes that Huechem’s focus on younger demographic with a change from need to aspirational buying behaviour will result in consumption of higher value products”, said Mr Ralhan.
“With the funding from TIW, Huechem’s growth focus will be through line extension in product categories, building new channels and expansion into new geographies”, said Mr Vineet Mehra, Director of Huechem. Having been at the helm of this business for over 20 years, he has a deep understanding of the innerwear/athleisure wear industry and of Branded Indian Retail.
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