Underlinen Fashion House Private Limited

In their own words

Underlinen Fashion House Pvt Ltd Underlinen Fashion House (UFH) founded by passionate professionals with over thirty years of experience in the apparel and FMCG sectors, are seeking licensing agreements with three to five of the world's leading innerwear and activewear brands as well as launching their own intellectual property. At the moment, the company has signed a deal with one of the most iconic European brands and is in advanced negotiations with three others. The team at UFH intends to raise 3 Mn USD in seed capital (equity and debt) to start operations and seek partners that can collaborate with them to manage end-to-end sourcing and supply chain functions. Team Suresh Nambiar, has extensive experience in the Indian apparel industry. In his last position, he was CEO of Pepe Jeans Innerwear, where he grew the business from ground zero . Suresh brings over 27 years of experience in the fashion, apparel, innerwear, footwear, and FMCG industries with companies like Jockey, adidas, Pepe Jeans, and Unilever. Dev Pandey, brings over 16 years of leadership experience in different fashion categories across age groups. Prior to being part of UFH ,was the Sales Head for Universal Sportsbiz Pvt Ltd., launching the brands WRONG, IMARA, MISTAKEN, and SINGLE in offline space and scaling it to INR 400 crs. Dev was an integral part of the growth trajectory for brands i.e. PEPE JEANS, DISNEY, GINI & JONY and LITTLE KANGAROOS. Founder #3, of UFH has worked across industries for over 30 years. His previous experience includes senior leadership roles with one of the leading innerwear brands in the Indian Subcontinent. The trio have built and managed business in the fashion & Lifestyle space including the innerwear and activewear categories for decades as business leaders. Their goal is to enhance the shopping experience of Indian consumers by bringing international brands apart from curating homegrown brands and make it available to the consumer through B2B, B2C & D2C channels Opportunity With 1.4 billion people and 36% of their discretionary spending on clothing, India offers the best growth opportunities for global brands. Among the innerwear fashion brands, Jockey is the only one to exploit the market opportunity (INR 5000 Cr Brand, still holding 9% of the innerwear market). Over the next five years, the Indian Innerwear industry is expected to grow by 13% (CAGR) and move from 36,000 crores to 76,000 crores .Considering the lack of global brands in the Innerwear and Activewear categories in India, we believe that - with our experience, acquisition strategy, and technological stack, we will be at significant turnover with a single-digit EBITDA by the end of the 12th quarter. In addition, the post-pandemic world has thrown up opportunities because of the rapid conversion from unorganized to organized, resulting in a surge in demand, creating supply gaps among organized players. Although the supply situation has improved, the organized segment continues to grow, proving that it is an ongoing phenomenon· Strengths • Exceptional operational excellence and sales record in Innerwear, Apparel & FMCG across the sub-continent. • Extensive experience managing merchandise and New product development. • Excellent procurement and sourcing capabilities. • Global network with brands and licensing agencies. • A tech-enabled approach, Data-driven processes & Automation Memo Notes • As a flagship licensee brand of Page Industries, JOCKEY has grown 5,550% in the public market over the last 25 years. • In the last five years, Indian innerwear brands have received much attention from PEs, VCs, and other industry peers. Reliance Retail Ventures acquired Clovia and Zivame through secondary-stake purchases and primary investments. • Several innerwear and loungewear brands have raised significant capital over the past two years, including Damensch, XYXX , Zivame , Clovia , Almo Wear, FreeCultur, and Modenik Lifestyle..

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