The Bear House, a D2C menswear brand, has managed to disrupt this market by bringing European fashion to India at affordable price points, according to a press release.
The Bear House clocked a gross revenue of Rs 91 crore in financial year (FY)23 from Rs 26 crore in FY22 and Rs. 10 crore in FY 2021, having achieved an exceptional three-digit growth rate from FY21 to FY23.
The brand has a current accounting rate of return (ARR) of Rs.150 crore and is aiming to scale up to Rs.500 crore by 2027.
According to the brand, The Bear House has been a profitable entity since its inception. The company has reported a 20 per cent year-on-year (YoY) growth in average order value.
Featuring an interesting color palette, The Bear House offers smart casual options, which are otherwise typically available at higher price points in India. The collection’s premium look and feel combine the best of both worlds, offering consumers a fusion of smart fits and uber cool casuals. Inspired by the duality of the bear, The Bear House embodies a juxtaposition of minimalist and maximalist approaches.
Harsh Somaiya, Co-founder, The Bear House, said “We recognised that the menswear smart casuals’ space was largely unexplored in India. Available styles were either too expensive, lacked variety at affordable price points and mostly offered by international labels. We believe, men’s fashion should be given the same importance as women’s fashion, providing a diverse range of styles and designs. With The Bear House, our goal was to create an Indian brand at par with international standards which creates garments that help men discover their personal style and dress with confidence. Our customers have been our biggest supporters, and their overwhelming demand has driven us to scale up production and consider future expansions into retail stores.”
Further explaining The Bear House’s significant contribution to the menswear market, Tanvi Somaiya, Co-founder at The Bear House, stated, “While we had experience in production, we felt compelled to go beyond and redefine menswear in India. There is a high demand for quality in menswear, but the focus should go beyond just durability and quality. Customers in the affordable segment have been limited to a handful of designs. Our aim is to make style accessible and a daily reality for this customer base. We want to empower them with a wide range of choices and the opportunity to create their own sense of style and outfits. We are committed to elevating tastes and leveraging modern solutions in the menswear space, all the while maintaining an affordable price point.”