KARMA HOLDINGS PRIVATE LIMITED

Socks ecommerce startup ﻿Soxytoes﻿has raised an undisclosed round of investment from Gurugram-based angel network.
 
According to a statement released by the startup, the investment will be deployed by Soxytoes for digital marketing, increasing its kiosk network, expanding into international markets, and launching new product lines such as personalised and kids socks.
 
Commenting on the investment, Vidushi Kanoria, Co-Founder of Soxytoes, said,
 
“While innovation has in some way or the other tweaked our clothes and accessories, socks have remained neglected. Soxytoes addressed this space and our ‘noticeable’ socks are transformational, and an orbit-shifting innovation. We have a cutting-edge product line which is customised according to each use case. We have been able to disrupt a previously sober and boring category and the funding will help us expand our brand presence. We also aim to launch a new product line, among other things.”&nbsp;
 
Launched in 2018 by Vidushi Kanoria and Aayush Goenka, Soxytoes is an omnichannel brand that sells noticeable socks, performance enhancing athletic socks, health socks for diabetics, no shows, and socks especially engineered for travel. Its range of products are claimed to be pure cotton-based, infused with the goodness of natural essential oils, with the help of micro-encapsulation technology. Besides fragrances like lime, green apple, and fragrant sandalwood it also offers infusions of cooling and energising mint oils and aloe vera to help soften and moisturise the feet.
 
Sorabh Agarwal, angel Investor and ex-SMD, Copal Amba (acquired by Moody’s Analytics), said “Soxytoes has a disruptive product line and addresses an area which is largely neglected. From youngsters to people with ailments such as diabetes, a very simple thing like a pair of socks can have a lasting impact. This idea resonated with us and we are happy to support the brand in their expansion.”
 
Since inception, Soxytoes claims to have sold over one lakh pairs across various online and offline channels including through its own website. Other channels include ecommerce marketplaces like ﻿Myntra﻿and ﻿Amazon﻿, apart from kiosks in leading malls and pop-ups at events such as Lil flea and Comicon.

Ecommerce startup Soxytoes raises investment from Gurugram-based angel network

Entrepreneur Vidushi Kanoria believes Gen Z and the millennial population use fashion to express their individuality and to stand out in a crowd. This group, between 15 and 40 years old, also form the audience that her quirky socks brand ﻿Soxytoes﻿ caters to.
 
The Noida-based startup specialises in designing funky socks featuring internet trends, millennial lingo, and other themes based on pop culture shows, food, and cute animal prints. Keeping a close watch on internet trends, it churns out fresh designs every month.
 
Vidushi says high fashion, especially noticeable socks, are transforming and disrupting the “previously sober and perhaps boring” accessory, globally. The entrepreneur noticed that well-designed and statement socks are a conversation starter.&nbsp;
 
Canadian Prime Minister Justin Trudeau’s tryst with non-conforming and trendy socks is testament to this. The politician once sported a pair of Chewbacca socks at the Bloomberg Global Business Forum, a pair of mismatched R2D2 and C3PO Star Wars socks during a meeting with the Prime Minister of Ireland, and multi-coloured striped socks at the G7 Summit. His penchant for socks has kept the social media abuzz on more than one occasion, a fad that seems to resonate with the younger population looking for fashion trends on the internet.&nbsp;
 
“This disruption is making an impact in the Indian socks market also. We are therefore confident that there is more than enough space for Soxytoes’ growth in the market,” Vidushi says, emphasising the startup is helping an entire generation of pop culture enthusiasts to express themselves and get noticed through its range of bold and eye-popping socks and (now) masks designs.&nbsp;
 
From avocado and pizza prints to geometric, polka dotted, and striped socks, and featuring mismatched socks with word plays like Hustle, Netflix &amp; Chill, Nerdy Birdy, the startup assures quirky designs that “easily draw people’s attention”. &nbsp;
 
When Vidushi moved to Delhi for her new job as Enterprise Account Manager at Idea Cellular, a relative, Aayush Goenka became her go-to person in the new city. Little did she know they would come together as co-founders to start Soxytoes in 20178&nbsp;
 
However, she says, the duo is now a dream team. Aayush brings two decades experience in leading a white label socks manufacturing and exporting company and Vidushi adds colour with millennial ideas and trends.&nbsp;
 
Priced between Rs 200 and Rs 250, Soxytoes received a positive response when it started selling on its website and leading ecommerce websites and entered the brick-and-mortar space by setting pop-up stalls at various events and malls.

How quirky socks brand Soxytoes clocked Rs 30M in revenue in two years

Aayush Goenka

Founder

We launched with socks in 2018, added masks in 2020, and loungewear in 2021. Building on our USPs, viz. ‘noticeability’ and product innovation, and on our millennial customer base, we are continuously expanding our product portfolio.

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