Proyog to launch a global yoga wear brand

Bangalore-based startup, Proyog, would follow ‘Make in India’ campaign, initiated by PM Modi to launch a global yoga wear brand, completely designed, developed and manufactured in India.

Proyog would focus on creating a brand completely dedicated to yoga, for which it had undertaken extensive research with yoga teachers and textile engineers to develop the fabrics and 12 styles. The market size for yoga apparel is estimated at 13 billion dollars (over Rs 82,600 crores). Proyog range is priced between Rs 1,900-Rs 3,900 in the domestic market, and aims to achieve a revenue target of Rs 300 crores by 2018.

In India, to begin with, Proyog will be available on Myntra and Jabong and is also in talks with Shoppers Stop. Internationally, the range would retail from like Neiman Marcus, Saks Fifth Avenue and Nordstrom later this year. The company plans to open its first store in Mysore, followed by Hrishikesh, Pune and Goa. The company has raised a round of funding from Naresh Malhotra, ex-Café Coffee Day and Sequoia Capital, and Ajay Malhotra of VAMM Capital. The company plans to raise their Series A funding of seven million dollars (over Rs 44 crores) in June this year. The brand would be globally launched on June 21, the first International Yoga Day, as recently declared by the United Nations.