The new age generation is full of fashion, style and new approach. Two college students Siddharth Munot and prabhakar singh while watching memes on facebook and other social media platforms have analysed a gap in the clothing industry. Many T shirts were plain and had no trends or they had outdated trends with low quality. By introducing meme based T-shirts they captured the place which had high demand and competition.
Initially it was a hobby but later it turned into a business idea, as college students they had a budget around 30,000 for their first store and they named it Bewakoof. The business skyrocketed within a few months of launch with booming results, by reaching up to 200 crores. These trends have shocked many clothing brands and competition kept on growing in the meme sector also.
The downfall.
While everything was going well, a sudden destruction occurred due to Covid 19, the whole world was destroyed with ruthless deaths and pain. This devastation has also impacted many businesses across every sector. The fashion industry impacted the most, as many of them stayed home and had no scope further for buying T-shirts. The founder saw huge demand in Covid masks and sanitizers, so they started preparing all those equipment. The business and sales improved but they burnt a lot of cash for manufacturing, which halted business profits.
After the loss, the Bewakoof brand has lost its essence and people were also complaining about quality and trends. The competition has also increased in the meme sector. Finally Aditya Birla group acquired Bewakoof for 200 crores. The brand which had high potential was left with loss of wealth with new trends and brands.
