The $13-billion market for yoga apparel has got product developers excited. Proyog, a Bangalore-based start-up, is to launch a global yoga wear brand designed, developed, and manufactured entirely in India.
The company is intent on demonstrating to the world that India has the ability to design and manufacture best-in-class products and is to cater to the multi-billion dollar yoga-wear market.
Malika Baruahasserts, Co-founder and Product Head, notes that yoga wear across the globe has been largely sportswear in disguise, and that none of the global brands have paid attention to the specific needs and requirements of yoga. In a statement, she pointed out that around 95 per cent of the market comprises of polyester and nylon products that are antithetical to yoga.
The product development at Proyog, on the other hand, has been intense, and the company touts to have developed the world’s first brand of products specialised for yoga. Extensive research with yoga teachers and textile engineers and over two years of research has led to the development of fabrics and 12 styles of garments, the company said in the statement.
There are currently 200 million practitioners of yoga worldwide. The company is looking to garner Rs 300 crore revenue by 2018, notes Priyaktha Iyengar, Co-founder and Design Head of Proyog.
Proyog had raised an early round of funding from Naresh Malhotra, ex-Cafe Coffee Day and Sequoia Capital, and Ajay Malhotra of VAMM Capital. The company plans to raise their Series A funding of $7 million in June. The global launch of Proyog is scheduled for June 21, the first International Yoga Day, as declared by the United Nations.
In India, the products would be available on most e-commerce sites. The company has tied up with some foreign retailers to market the products in the international market.
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