Bummer: Why we Invested?
What is Bummer?
Bummer is a direct-to-consumer innerwear/loungewear brand for men and women operating in 3 different product categories with 170+ SKUs in the mass premium segment. The company offers a diverse catalog of ethically sourced micro modal fabric undergarments, including briefs, boxers, bikinis, and more, available in vibrant colors and lively prints targeted to Gen Z and Millennials primarily.
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Industry
India’s innerwear market is currently valued at $12.7 billion (2024) and is expected to reach $16.2 billion by 2027, growing at a CAGR of 8.5%. The men’s innerwear market is divided into various segments, with 32% falling into the mid-premium segment being the fasted growing category groing at CAGR at 20% —exactly where Bummer plays. While well-known brands like Jockey dominate the overall market with a 19% share, Bummer is focused on bridging the gap in the premium and mass segments with a unique consumer proposition.
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Understanding Consumer Shifts: How Bummer is Redefining an Industry
At Gruhas Collective Consumer Fund (GCCF), we prioritize a deep understanding of modern consumer behavior before making investment decisions. When we first connected with Bummer, we recognized an industry where consumer loyalty hinged on consistent quality and innovation. However, further analysis revealed that many established brands prioritized profits over addressing their customers' evolving needs. Bummer identified a clear gap in the market and offered a solution aligned with the modern consumer’s demand for individuality. Their playful, personality-driven approach to a historically plain industry has struck a chord with Gen Z and Millennials.. By combining super-soft, sustainable fabrics with bold designs, Bummer is poised to shake up the market and challenge industry giants—offering a fresh, yet "soft," alternative to the status quo.
Bummer isn’t just about selling products—they’re creating a movement that resonates with the next generation of consumers. By embracing sustainability, individuality, and comfort, they’ve tapped into key shifts in the market that others have overlooked. This forward-thinking approach makes Bummer a natural fit for our portfolio.
As Bummer pushes the boundaries of their industry, we’re thrilled to partner with them and confident in their ability to set new benchmarks. Their vision and execution embody the kind of disruptive innovation we value at Gruhas Collective Consumer Fund, and we’re proud to support their growth.
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