The company witnessed 3x YoY growth since 2020 and closed FY23 with Rs. 300 crores GMV
Bengaluru: Homegrown fast-fashion brand The Indian Garage Co. (TIGC) is aiming to achieve Rs. 600 crore GMV (gross merchandise value) by the end of FY (fiscal year) 2023–24 clocking a 100% growth from last financial year, the company said in a press release today.
TIGC has been continually growing at 300% YoY (year over year) since 2020, ahead of the industry growth rate of 12% to 13% CAGR (compound annual growth rate).
“We have come a long way; it is our moment of glory to see our brand being rewarded with much-needed growth at the right time! The next couple of years are very crucial for us, and we are committed to the idea of building a cult Indian value fashion brand with a global appeal,” said Anant Tanted, chief executive officer of The Indian Garage Co.
The company offers menswear as the primary category and it recently forayed into a womenswear line called FreeHand and a plus-sized fashion line titled HardSoda under the house of brands format.
TIGC currently sells 5–6 lakh units a month through e-commerce markets such as Myntra, Ajio, Amazon and Flipkart and it recently started retailing its products on its own online platform TIGC.in. The company products are also available offline at the multi-branded outlet Fashion Factory.
The Indian Garage Co. was founded by Tanted in 2012 as a tech-enabled fast-fashion D2C (direct-to-consumer) brand. The company is planning to expand its offline footprint through the phygital distribution route and EBOs (exclusive brand outlets) in the near future, the release added.
Recently, e-commerce company Flipkart launched the latest collection of The Indian Garage Co. in collaboration with cricketer Surya Kumar Yadav. Read more about it here.