| | | Source : Proyog | Wednesday, May 13, 2015 3:05PM IST (9:35AM GMT)  | | | | Yoga Wear Brand to Champion 'Make in India' Campaign | | Proyog, the first Indian startup to challenge international market leaders in their own backyard | | | | Bangalore, Karnataka, India | Bangalore based startup, Proyog, see themselves as the flag bearers of Prime Minister Modi’s ‘Make in India’ campaign. It will soon launch a global yoga wear brand designed, developed and manufactured entirely in India. The company is intent on demonstrating to the world, India’s ability to design and manufacture best-in-class products in the multi-billion dollar yoga wear market.
Co-founder and Product Head, Malika Baruah asserts, “Yoga wear across the globe has been largely sportswear in disguise. None of the global brands have paid attention to the specific needs and requirements of yoga. 95% of the market comprises of polyester and nylon products that are antithetical to yoga. Proyog, on the other hand, has stayed true to yoga wherein every product is designed to enhance the practice. It is very unlikely that a yoga practitioner will go back to anything else after having tried Proyog.”
Proyog has been highly dedicated to its product development and insists on having developed the world’s first brand of products specialized for yoga. It has taken extensive research with yoga teachers and textile engineers and over two years to develop the fabrics and twelve styles of garments.
“Based on the current 200 million practitioners of yoga worldwide, the market size for yoga apparel is estimated to be well over $13 billion. Proyog is priced between Rs.1900-3900 in the domestic market, and we are looking at a Rs.300 crore revenue by 2018”, explains Priyaktha Iyengar, Co- founder and Design Head of Proyog.
The company believes that Indian brands can’t compete globally because we fundamentally don’t believe in quality and product supremacy. Unless that changes dramatically, it cannot see us competing against international giants, let alone winning against them.
Dave Banerjee, Co-founder and Marketing Head, contends “Product development and manufacturing hasn’t been India’s strength up until now. None of our homegrown brands have been able to take a leadership position on the world stage. We don’t even have an IT product that the world swears by. It’s the same in the domestic market where virtually all product categories are dominated by foreign brands, be it toothpaste, television, detergent, chocolate or mobile phones”.
While various start-ups are mushrooming across the country, Proyog’s marketing approach is unusual. “Unlike most Indian start-ups, our focus is not the domestic market. In order to establish product supremacy we must dominate consumer markets globally. After having tested our products among eleven nationalities, we know we are about to launch India’s first global consumer brand”, discloses Dave. In India Proyog will be available in Myntra and Jabong and is in talks with Shopper’s Stop and internationally the company plans to retail from 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 where many yoga teachers come from all over the world for certifications. Proyog had raised an early 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 $7 million in June. The global launch of Proyog is scheduled for June 21, the first International Yoga Day, as recently declared by the United Nations. About Proyog: Proyog is designed, manufactured and marketed by Bangalore based company IKA Yoga Wear Pvt. Ltd. Proyog is the first contemporary-classic yoga wear in the world. It has taken designs from ancient India and recreated them using cutting edge technology to make them relevant to our modern day yoga practice. Proyog products are targeted to serious yoga practitioners across the world. | | | | | Media Contact Details | | | | | | | | KEYWORDS: Business/ Finance:Advertising, PR & marketing, Clothing & Accessories, Information Technology, Manufacturing Companies, Retailers, SME, E-commerce;General:Consumer interest, Govt. & Public Policy, Internet, Start Up | | | | To ensure that you continue to receive email from Business Wire India in your inbox, please add businesswireindia.com to your Address Book or Safe List. | | | | To submit a press release, click here.
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