Let me take you on a trip down the streets of Mumbai, where Urban Monkey, the brainchild of Yash Gangwal, first rolled onto the scene in 2014. What started as a humble venture to serve the skateboarding and hip-hop communities, quickly flipped the script on Indian streetwear fashion. Urban Monkey’s unique blend of style and swagger caught the eye of celebs like Rannvijay Singha, Raftaar, and Bhuvan Bam, and soon the brand became synonymous with the underground culture.
Growth and Expansion from Streets to Stars
Urban Monkey ain’t just playing the street game; they’re owning it. Despite not scoring a deal on Shark Tank India, the brand hustled hard and is now raking in big bucks. In FY 2021-22, Urban Monkey reported a revenue of ₹5 crores, and by the next year, they projected to hit ₹25 crores. They’ve expanded their line-up to over 500 products, including caps, eyewear, belts, and skateboards. And guess what? Their net worth is chilling at a cool ₹50 crores according to geeksaroundglobe.
Bumps in the Road
But it ain’t all smooth skating. Urban Monkey has faced its share of grind. The Sharks on Shark Tank India pointed out that the brand might be spreading itself too thin with too many product categories. Yash Gangwal, the founder, stood his ground, believing in a diverse product line, which led to no deal from the Sharks. Despite this, inventory issues have been a recurring hurdle. The demand often outstrips supply, leading to stockouts – a bittersweet problem for a brand that’s blowing up.
The Current Vibe
Fast forward to today, Urban Monkey is still riding high. They’re more than just a brand; they’re a movement. With over 550,000 followers on Instagram, collaborations with top-tier artists, and a strong community presence, Urban Monkey is setting trends, not following them. They’re holding it down in the streetwear game, not just in India but eyeing the global scene as well (Shark Tank Talks) (Mid-day).
Urban Monkey’s Future is Bright!
Urban Monkey’s journey from the back alleys of Mumbai to the spotlight is a testament to its relentless grind and unique flair. They’ve faced challenges head-on and come out stronger, maintaining their street cred and expanding their empire. For the skateboarding and hip-hop communities in India, Urban Monkey isn’t just a brand; it’s a lifestyle, and they’re here to stay.
So next time you see someone rocking those dope caps or slick sunglasses, know that Urban Monkey’s got the streets on lock. And with a net worth of ₹50 crores, they’re just getting started. Keep your eyes peeled, ’cause Urban Monkey is taking Indian streetwear to the next level.