Mumbai, December 21, 2021: TIW Capital Group’s TIW India Buyout Fund (TIW PE) has invested upto INR 30 Cr in Huechem Textiles Private Limited (HTPL) by taking 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 behavior 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.
About TIW India Buyout Fund (TIW PE)
TIW PE is India based, sector agnostic, Private Equity Buyout Fund. TIW’s “FRICT” * strategy focuses on five core sectors; Financial Services, Real Estate, Internet Businesses, Consumer & Technology, creating positive friction to generate alpha returns for its investors.
About Huechem Textiles Private Limited
Established in 2001, Huechem Textiles Private Limited manufactures, distributes and markets Men’s everyday wear products under the brand “Chromozome”, including men’s innerwear (Briefs, Trunks, Boxers) and athleisure (Track Pants, T-Shirts, Joggers, Shorts). The Company is headquartered in Mumbai and has a base in Tirupur near Coimbatore.