Premium menswear brand The Pant Project has raised Rs 109 crore in a Series B funding round led by Mirae Asset Venture Investments (India). The company plans to use the capital to expand its offline retail presence, strengthen its omnichannel operations and introduce new product categories as it looks to scale its business across India.
Founded by brothers Dhruv Toshniwal and Udit Toshniwal, The Pant Project began as a digital-first brand focused on creating menswear that addresses Indian consumers’ preferences for fit, fabric and everyday comfort. The company has since built a product portfolio that includes Malai Pants and Inklock No Fade Black Jeans.
With its latest fundraise, the brand is preparing for a significant expansion of its retail network, targeting more than 150 exclusive brand stores over the next two to three years, compared with the 25 stores it currently operates across India.
The Pant Project Plans Expansion Beyond Digital Retail
The planned expansion marks a new phase for The Pant Project as it looks to build a stronger physical presence alongside its established online business. The company intends to open more exclusive brand stores, giving customers greater access to its products and an opportunity to experience its fabrics, fits and designs in person.
The expansion will also support the brand’s omnichannel strategy, bringing its online and offline operations closer together. By developing both channels, The Pant Project aims to create a more accessible shopping experience for customers across markets.
Physical retail is expected to play a central role in the company’s next stage of growth, particularly as it looks to establish a wider presence in India’s premium menswear segment.
New Product Categories to Broaden Menswear Portfolio
Alongside its retail expansion, The Pant Project plans to diversify its product portfolio beyond its existing focus on bottomwear. The company is looking to enter adjacent categories, including jeans, athleisure and casualwear, as it seeks to cater to a broader range of consumer preferences.
The move would allow the brand to build a more comprehensive menswear offering while leveraging its existing customer base and brand positioning. Its expansion into additional categories is also expected to complement its growing network of exclusive stores.
For a brand that began with a focused product proposition, the planned diversification represents an opportunity to increase its presence across multiple segments of the menswear market.
Mirae Asset Leads Rs 109 Crore Series B Round
The Series B round saw participation from existing investor Sorin Investments, along with new investors Hyperscale Ventures, B&K Securities, MGA Ventures and B2V Ventures.
The latest fundraise follows the company’s $4.25 million Series A round in 2024, which was led by Sorin Investments. Before raising institutional capital, The Pant Project had bootstrapped its business.
The company has also secured venture debt financing from Alteria Capital, although the amount has not been disclosed. IndigoEdge acted as the investment banker for the Series B transaction.
Fresh Capital to Support the Next Phase of Growth
The Rs 109 crore funding provides The Pant Project with capital to pursue its retail expansion, develop new product categories and strengthen its presence across sales channels.
The company’s target of more than 150 exclusive stores over the next two to three years signals a substantial step up from its current retail footprint. At the same time, its plans to expand into jeans, athleisure and casualwear point towards a broader product strategy.
As The Pant Project moves beyond its digital-first beginnings, its next phase will centre on expanding customer access, growing its physical retail network and building a wider presence in India’s premium menswear market.
