At Dexter Ventures, we back companies with strong fundamentals and the potential to lead in high-growth markets. The Bear House, an internet-first men’s fashion brand, caught our attention for its compelling position in India’s booming fast fashion sector. Here’s why we’re excited to support Harsh and Tanvi Somaiya and their team as they redefine premium, accessible fashion.
A Massive and Growing Market Opportunity
The Indian apparel market, valued in the tens of billions of dollars, is seeing rapid growth in fast fashion, a segment currently at 10% of the total market and projected to reach 25-30% by FY31, growing at a CAGR of 30-40%. The Bear House is well-placed to seize this opportunity, delivering premium yet affordable men’s fashion through a digital-first approach. By focusing on everyday style rather than ultra-fast trends, the company strikes a balance between trend responsiveness and operational efficiency, minimizing dead inventory while meeting evolving consumer demands.
A Proven Team with Deep Expertise
The Bear House is driven by co-founders Harsh and Tanvi Somaiya, whose combined skills form a rock-solid foundation. Harsh’s extensive experience in apparel manufacturing—having scaled Bloomcraft Apparels, an export house supplying brands like Mango, Zara, and Lacoste—brings unparalleled supply chain expertise. His ability to manage production and sourcing ensures cost efficiency and quality, giving The Bear House a competitive edge. Tanvi complements this with her strategic insight, creating a leadership team that’s both visionary and execution-driven.
Strong Financial Performance and Unit Economics
The Bear House has shown impressive growth and profitability. In FY24, the company achieved significant revenue, transitioning from a modest EBITDA margin in FY23 to a robust, double-digit positive margin in FY24. Year-to-date figures for 2024 reflect continued momentum, with the company remaining solidly EBITDA positive. This is supported by healthy gross margins and efficient contribution margins, alongside a steadily improving Return on Ad Spend (RoAS)—a testament to its cost-effective marketing and operational discipline. A growing base of repeat customers further signals a sustainable model poised for scale.
A Clear Path to Omnichannel Dominance
While The Bear House has thrived online, primarily through marketplaces, supplemented by its own website and app, it’s now expanding into offline retail. Plans to open 18 company-owned, company-operated (COCO) stores by FY26 in key metros like Bengaluru, Mumbai, Delhi, and Hyderabad will boost brand visibility and customer engagement. Leveraging Harsh’s supply chain expertise, this omnichannel pivot positions The Bear House to compete with domestic players like Snitch and global giants like H&M, all while deepening its market presence.
Customer Love and Market Validation
Customers rave about The Bear House’s high-quality, well-fitted apparel at affordable prices (shirts typically in the ₹1500-2600 range). With thousands of reviews and a strong 4.4 rating on Myntra, alongside glowing feedback from repeat buyers praising fit, comfort, and timely delivery, the brand has cultivated a loyal following. Suppliers, like Prabhakar Shetty producing tens of thousands of pieces monthly, highlight its rising recognition and reliability, comparing it favorably to established names like Peter England.
Why Now?
The capital will fuel store expansion, team growth, and tech enhancements—critical steps to accelerate its trajectory in a market primed for disruption. With strong traction, a seasoned team, and a vision to become a leading omnichannel player in India’s fast fashion space, The Bear House fits our thesis of investing in businesses that deliver value at scale.
We’re proud to partner with Harsh, Tanvi, and the team as they bring style, quality, and accessibility to the modern Indian man. The Bear House isn’t just keeping pace with fast fashion—it’s setting the pace.
