Rs 30 crores for gut health: is this the next big thing?
In our Seventieth D2C Insider edition, explore how Troo Good secures $9 million in funding, Yoho raises Rs 27 crores and more!
Welcome to the D2C Insider Digest!
Here, you'll keep up with the latest developments in the D2C sector, receive exclusive updates from India’s largest D2C community, and gain valuable insights and trends from top brands.
In today’s newsletter, you’ll find:
Hyderabad-based Troo Good, known for its millet-based snacks, has successfully raised $9 million in a funding round led by Puro Wellness, bringing its total funding to approximately Rs 130 crore.
Founder’s Vision: Founded in 2018 by Raju Bhupati, Troo Good is dedicated to providing affordable nutrition, particularly through its flagship product, Millet Chikki.
Use of Funds: The newly acquired capital will primarily focus on expanding infrastructure and increasing distribution capabilities to meet rising consumer demand.
Impressive Growth: Since its inception, Troo Good has become a prominent player in the health snacks market, claiming to sell over 3 million units daily of its popular millet products.
Commitment to Nutrition: This funding marks a significant step towards achieving Troo Good’s goal of making nutritious snacks accessible to all, especially children.
Yoho, a direct-to-consumer (D2C) footwear brand, has secured Rs 27 crore ($3.2 million) in a pre-Series B funding round led by Gulf Islamic Investments.
Founders' Vision: Founded in 2021, Yoho aims to redefine footwear choices for consumers, offering a diverse range of products from casual to formal shoes for both men and women.
Use of Funds: The funding will be utilized to enhance domestic and international expansion efforts, including partnerships with 2,000 Multi-Brand Outlets (MBOs) across Tier 1 and Tier 2 cities in India.
Strategic Growth: Yoho plans to invest strategically in research and development to remain innovative and competitive in the footwear market.
Building Brand Presence: This funding will allow Yoho to significantly bolster its brand presence, catering to the growing consumer demand for quality footwear.
D2C company The Good Bug has successfully raised $3.5 million (approximately Rs 30 crore) in its Series A extension round, led by Sharrp Ventures, the family office of Marcio Group chairman Harsh Mariwala.
Founders' Vision: Established in 2022 by Keshav Biyani and Prabhu Karthikeyan, The Good Bug focuses on improving gut health and wellness through a variety of products designed to tackle lifestyle issues such as bloating, constipation, and weight management.
Use of Funds: The new funding will enable the company to expand its product line, enhancing its offerings to consumers seeking gut health solutions.
Recent Performance: In FY23, The Good Bug reported a significant increase in sales, reaching Rs 2.79 crore, up from Rs 0.26 crore the previous year, although it faced a net loss of Rs 3.9 crore.
Strategic Partnerships: Existing investors, including Fireside Ventures and Keshav Biyani, also participated in this funding round, reflecting strong support from stakeholders.
1. LVMH Warns of ‘Uncertain’ Conditions Amid 3% Drop in Luxury Sales
Luxury retail giant LVMH reported a 3% decline in quarterly revenues to 19.1 billion euros, with a 5% drop in its core fashion and leather goods units, including Dior and Louis Vuitton.
Financial Overview: The results fell short of analyst expectations, with Luca Solca from Bernstein noting LVMH as the weakest among its peers.
Market Challenges: The decline was driven by lower growth in Japan due to a stronger yen and decreased consumer confidence in mainland China, where spending has contracted amid economic concerns.
Strategic Adaptations: The luxury sector is increasingly relying on partnerships and acquisitions, such as Mytheresa's acquisition of YNAP from Richemont, to enhance offerings and streamline operations.
Operational Efficiencies: The launch of the Authentic Luxury Group by Authentic Brands Group and Saks Global aims to consolidate resources, helping luxury brands reach broader audiences while cutting costs.
These strategies indicate a shift in how luxury companies are navigating current economic uncertainties.
2. Beyond Yoga Opens New York City Pop-Up
Beyond Yoga has launched its first pop-up location, Club Beyond, in New York City at 31 East 17th Street, running until Wednesday. The pop-up offers drop-in fitness and wellness classes, expert-led workshops, and features a large selection of apparel, a bun and braid bar, and collaborations with brands like City Girls Who Walk.
Unique Offerings: Club Beyond will host up to three curated classes daily, with special guests like Ngo Okafor and Denise and Katie Austin.
Strategic Expansion: The initiative aims to engage NYC's customer base, with CEO Nancy Green emphasizing its role in fostering community connections.
Future Plans: Beyond Yoga is exploring permanent store locations nationwide after expanding to seven existing stores since being acquired by Levi Strauss & Co. in 2021, with a notable 19% growth in recent months.
This pop-up exemplifies the brand's commitment to deepening consumer connections while expanding its retail footprint.
A) 3X Your Revenue with D2C Insider Elevate!
Orimii Skincare founder Anirudh Agarwal tripled his revenue after joining D2C Insider Elevate—and your brand can achieve the same!
Here’s what you’ll get with Elevate:
◾ Funding up to ₹1 Cr to fuel your D2C growth
◾ Over ₹25 Lakhs in enabler credits
◾ An opportunity to pitch to 50+ investors on Demo Day
◾ Expert mentorship from top industry leaders
Join the next Elevate cohort today!
B) D2C Insider Elevate Cohort 2 Demo Day x Regional CXO Meet - North
What a fantastic evening in Gurgaon! Here’s a quick recap:
The event kicked off with a motivating welcome note from founder Abhishek Shah for our Cohort 2 founders.
Pitch Highlights: Founders from Polr Care, Hemptyful, The Paan Legacy, and others presented their incredible brands.
Top 3 Winners: Polr Care, Hemptyful, and The Paan Legacy each won ₹1 crore!
Special guest Amit Jain, Founder & CEO of CarDekho Group, inspired everyone with his journey from Garage to Global.
💥 The Fireside Chat with Amit Jain was the highlight of the evening, filled with insights on building a billion-dollar business.
Keynote by Umair Mohammed of Nitro Commerce and panel discussions on D2C vs Omnichannel rounded off a stellar night.
Missed this event? No worries!
Our next stop is Mumbai—don’t miss out!
FabBox, an initiative by Healthy Karma Foods Pvt. Ltd., is more than just a healthy snack retailer; it’s a lifestyle change designed to transform your snacking habits!
The buzz around our events just keeps growing—and we’re loving every moment of it!
Join us and connect with others who will support you along the way.
Celebrating Culture Amidst Busy Schedules
Ahana Gautam, founder of Open Secret, shares her thoughts on balancing work with cultural celebrations. Here’s a closer look:
As we celebrate Dussehra, Aarushi emphasizes the importance of holding onto our traditions and wishes everyone a happy and meaningful festival!
Navigating Entrepreneurship with Sri Sri Ravi Shankar
In high-pressure startup world, mental and physical health often suffer.
Gurudev Sri Sri Ravi Shankar, founder of the Art of Living Foundation, shares insights on balancing life’s challenges with mindfulness and meditation. He highlights the importance of accepting what we cannot control and acting on what we can.
Don't miss out on future D2C knowledge bombs! 💣
Stay tuned for upcoming webinars and industry insights 🌟
Until then, keep rocking the D2C world! 🚀
