Neobrands will be a house of brands across multiple fashion categories including everyday fashion, denims, athleisure and performance wear categories. The brands are aimed at capturing the fast-growing fashion and apparel market in India, said the company.

Anjali Nashier Rattan, business chairperson of RattanIndia Enterprises, said, "Retail has been one of the cornerstones of RattanIndia Enterprises' path towards its new age India scale businesses. We have been working closely over the past one year to launch our direct to consumer fashion brands across multiple categories. The fashion industry in India is witnessing a remarkable growth trajectory, with a huge demand for trendy and premium quality brands. Our brands across multiple categories, are poised to capture this market opportunity by offering fashionable, yet affordable clothing options for men and women."

The fashion ecommerce market size is currently estimated to be Rs 80,000 crore and growing at a healthy rate of 30% per annum. The fashion ecommerce market is expected to grow to Rs 2,50,000 crore per annum over the next five year. This growth is being led by smart phone enabled digital native young population, Rattanindia Enterprises stated in the press release.

She further added, “In the first phase all these brands will be digital native brands to be sold direct to customers through ecommerce platforms. There is a huge space for home grown premium yet affordable brands in the country for the brand conscious customers. Also, a digital led channel will help the company scale up the retail footprint of its brands across the length and breadth of the country.”

Rattanindia Enterprises is the flagship company of Rattanindia Group for its new age growth businesses. The company has forayed into electric mobility space through Revolt Motors to democratize clean commute using next-gen mobility solutions. The company is completely focused on providing world class electric mobility products which are affordable and accessible to every Indian.

On a consolidated basis, the company reported a net loss of Rs 34.23 crore in Q3 FY23 as against a net loss of Rs 5.52 crore recorded in Q3 FY22. Net sales surged to Rs 1,152.80 crore in Q3 FY23 from Rs 0.67 crore posted in Q3 FY22.