Newme lands ₹108.6 crore as fast fashion booms

Fast fashion brand Newme has raised ₹108.6 crore in its Series B round, co-led by existing investors Accel India and Fireside Ventures.

Newme offers Gen Z–centric women’s fashion across online channels and offline stores. The brand operates 16 offline outlets across major cities including Bengaluru, Mumbai and New Delhi.

Worth noting: the D2C firm’s valuation is set to rise by about 41% to ₹988 crore, compared to its earlier valuation of ₹700 crore during the Series A funding round.

Big theme: India’s fast fashion scene is exploding. The segment grew 30-40% in 2023-24, and what is today a $10 billion market is set to hit $50 billion in just seven years.

This booming wave spans value players like Zudio, premium names like Zara, and mid-range brands such as H&M and Snitch.