D2C Footwear Brand Neeman's Raised $4 Million to Boost Offline Expansion

Direct-to-consumer (D2C) footwear brand Neeman's has successfully raised $4 million (approximately ₹35 crore) in its Series B2 funding round.  

The investment was led by SNAM Group through its investment arm, SNAM Solutions, with participation from existing investors Anicut Capital, ENAM Investments, and Sharrp Ventures. 

Funding to Drive Offline Expansion 

The fresh capital injection will be utilised by Neeman's to expand its offline footprint by opening additional stores. This strategic move aims to strengthen its presence in the physical retail space, complementing its existing online operations. The company also plans to enhance its supply chain efficiency as it scales its operations. 

Projected Revenue Growth 

Neeman's is on track to close FY26 with a revenue of around ₹180 crore. The company is targeting ₹500 crore in annual revenue over the next 2 years, driven by store expansion and increased repeat demand. 

Company Background and Market Position 

Founded in 2017 by Taranjeet Singh Chhabra and Amar Preet Singh, Neeman's focuses on everyday comfort and sustainability in its footwear offerings. The brand sells its products through its website, e-commerce platforms, quick commerce platforms, and offline stores. 

Read More: Anthropic Eyes to Raise $10 Billion at $350 Billion Valuation! 

Competitive Landscape 

Neeman's competes with other D2C footwear startups like Comet, Gully Labs, Bacca Bucci, and The Souled Store in India's rapidly growing footwear market. While global sneaker brands face challenges in the Indian market due to their one-size-fits-all approach, local brands like Neeman's are capitalising on local preferences. 

Adapting to Local Preferences 

Homegrown brands such as Banjaaran Studios and Gully Labs are designing products specifically for Indian consumers, addressing issues like wider feet, which global brands often overlook. This focus on local needs provides a competitive edge in the Indian market. 

Conclusion 

Neeman's recent $4 million funding round marks a significant step in its growth strategy, focusing on expanding its offline presence and improving supply chain efficiency. The company aims to leverage this investment to enhance its market position in India's competitive footwear sector. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.