Influencer and actor Kusha Kapila has ventured into entrepreneurship with the launch of her shapewear brand, UnderNeat, attracting significant investment from Fireside Ventures and notable figures in the industry.
Influencer and actor Kusha Kapila has made a notable entry into the world of entrepreneurship with the launch of her shapewear brand, UnderNeat. The brand has successfully secured funding from Fireside Ventures, with Mamaearth co-founder Ghazal Alagh joining as an investor. Alagh confirmed her involvement on LinkedIn this past Tuesday, expressing gratitude toward Vinay Singh, Prayag Mohanty, and the Fireside Ventures team for their belief in the brand’s vision. “Thanks to Vinay Singh, Prayag Mohanty and Fireside Ventures for believing in our vision and partnering with us. We couldn’t have asked for anyone better to share this journey with,” she stated in her LinkedIn post.
UnderNeat is spearheaded by Kusha Kapila alongside co-founder Vimarsh Razdan, who also holds the position of CEO. Razdan announced on LinkedIn that Alagh will serve as both a mentor and investor for the brand, enhancing its leadership with her experience in the market. The recent seed-funding round for UnderNeat is estimated to be between ?8-10 crore, although exact figures have not been disclosed, as reported by Moneycontrol.
The official launch of UnderNeat took place on March 30, marking its entry into the rapidly evolving shapewear market in India. Remarkably, the brand gained a significant following almost immediately, attracting 1.76 lakh followers on Instagram within just two days, a feat credited to Kapila’s substantial online presence of 4.1 million followers. Leading up to the launch, Kapila utilized her platform to generate interest by sharing collaboration reels that showcased styling tips for shapewear in various outfits starting in February.
India’s shapewear market is considered to be fragmented and underpenetrated, according to Moneycontrol. The global market for compression and shapewear is projected to grow from $4.37 billion in 2024 to $8.91 billion by 2034, reflecting a compound annual growth rate (CAGR) of 7.5%. In contrast, the Indian market, valued at $196 million, is expected to grow at an impressive CAGR of 11.3% from 2024 to 2031, largely propelled by advancements in fabric technology that cater to lightweight everyday wear.
Targeting the “mass-premium” segment, UnderNeat aims to offer accessibility at lower price points compared to its competitors. Drawing inspiration from Skims, Kim Kardashian’s renowned shapewear brand valued at $4 billion, UnderNeat’s pricing structure is set to be 30-40% lower. The initial product range includes various shapewear items like waist cinchers and corsets, as well as outerwear such as leggings and tees. There are plans for future expansion into accessories, swimwear, and loungewear, primarily aimed at women aged 18 to 40.
The Indian shapewear landscape features a myriad of brands, including Zivame, Clovia, Triumph, and PrettySecrets, alongside newcomers that focus on custom-fit designs such as ButtChique and The Active Story. Prices across the market range from ?300 to ?4,500, appealing to a diverse consumer base that includes fashion-forward young adults and professionals seeking mid-premium options.
The trend of influencers transitioning to entrepreneurship is on the rise in India, particularly within fashion, beauty, and lifestyle sectors. Several notable Indian creators have embarked on this entrepreneurial journey, including fashion influencer Deeksha Khurana with her line Dee Clothing, and Mrunal Sharma, who launched a beauty brand called Mrucha. Additionally, Diipa Büller-Khosla’s Ayurvedic beauty brand, Inde Wild, has reportedly secured $5 million from Unilever Ventures, highlighting the increasing influence of digital personalities in the consumer goods space.
Source: Noah Wire Services
