MyDesignation Secures $1.25 Million in Funding for D2C Fashion Growth

MyDesignation, a Thiruvananthapuram-based direct-to-consumer fashion brand, has successfully raised $1.25 million (around Rs 10.7 crore) in its initial seed funding round. This round was led by Multiply Ventures, with notable contributions from Veltis Capital, Sattva Ventures, Dominor Investment Holdings, and Green Trunk Ventures.

The funds will primarily be used by MyDesignation to boost recruitment, enhance technology, broaden its offline presence, and venture into new markets.

About MyDesignation

Established in 2020 by the husband and wife team Swaroop Krishnan and Gopika B Raj, MyDesignation offers various fashion and lifestyle products. The brand has attracted over 500,000 customers, boasting a 35% monthly repeat purchase rate, and is ambitious to double its customer base within the year.

Operational Strategy

MyDesignation operates without dependence on third-party platforms or marketplaces, which enables full control over the customer experience. The brand is focused on refining its technological infrastructure, increasing its offline presence, and recruiting talent that aligns with its objectives.

Market Competition

In the competitive realm of D2C fashion, MyDesignation faces formidable rivals including NNNOW, Nicobar, and Yepme.