Noise’s Big Leap, Transformative Power of Radical Candor and Wakefit’s Trust Strategy
In our twenty-sixth D2C Insider edition, discover, Noise's funding from Bose, Credo Brands' IPO success, Mensa Brands' financial update and more!
Hello and welcome to the world of D2C Insider, your weekly dose of insights, news, and trends from the direct-to-consumer space in India and beyond. In D2C Insider Digest’s twenty-seventh edition you'll see:
Audio D2C Brand Noise Sheds Its Bootstrapped Title, Bags Backing From Bose
Noise, an audio direct-to-consumer (D2C) brand, has recently received strategic funding from Bose as part of its Series A round. The collaboration with Bose is expected to increase innovation in the audio space and strengthen Noise’s research and design. Noise competes with other brands, such as boAt.
Credo Brands IPO gets subscribed 6.94 times on second day of offer
The company’s IPO was subscribed to 6.94 times on the second day. The company is looking to raise Rs 549.77 crore through the IPO. The IPO was subscribed to 11.47 times by non-institutional investors and 8.76 times by retail individual investors. Credo Brands is a leading homegrown brand in the mid-premium and premium casual men’s wear markets in India.
D2C company Mensa Brands logs Rs 329 crore loss in FY23
Mensa Brands registered Rs 329 crore in losses in FY23, a 2.4-fold increase from FY22 due to rising expenses. Mensa Brands’ operating revenue increased to Rs 1,317 crore during the fiscal year ending March 2023, as compared to Rs 339.2 crore in FY22. The sale of products from its portfolio firms formed 98.5% of its revenue, which stood at Rs 1,297 crore, while Rs 17.7 crore came from the sale of services.
The Transformative Power of Radical Candor
This week, we feature Saloni Anand, Co-Founder of Traya, who brought to light a transformative concept on LinkedIn: Radical Candor.
Coined by Kim Scott, this revolutionary approach to workplace communication emphasizes the balance of caring personally while challenging directly. It's a strategy that not only enhances team dynamics but also propels growth and innovation.
What are your thoughts on this?💯👇
Wakefit, under the leadership of Chaitanya Ramalingegowda, is redefining the Indian mattress industry through a unique trust-based consumer approach. Challenging conventional mattress purchasing practices, Wakefit introduced a 30-day trial, prioritizing customer satisfaction and demonstrating the power of consumer trust in brand building.
Key Highlights:
Wakefit stands as a testament to how trust and customer-centric policies can pave the way for innovation and success in traditional markets.
For more details, read the full article on Forbes India.
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D2C snacking brand Farmley has raised $6.7 million (INR 55.6 Cr) in a pre-series B funding round led by BC Jindal Group, with participation from existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners. The New Delhi-based startup will deploy the fresh proceeds for its product innovation, diversifying distribution channels, and amplifying brand building. Founded by Akash Sharma and Abhishek Agarwal in 2017, Farmley offers dry fruits and nuts in different flavours and snacking formats such as roasted peri peri makhanas, Thai chilli cashews, and date bites, among others.
🎧 Noise Founder On Building A Bootstrapped Startup, IPO & Future Of Technology
🛍️ The D2C Insider Delhi Summit's Goodie Bag is a treasure trove of community power! 🌟
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