XYXX, a leading premium men‘s lifestyle label crafting apparel for the discerning Indian man, is proud to announce their first ever Employee Stock Ownership Plan (ESOP) buyback, aimed at rewarding key employees who have been instrumental in achieving organizational objectives and driving the company's success. XYXX’s ESOP programme was introduced 4 years ago, and employees who have completed their tenure are eligible for the buyback.
The ESOP program is designed to recognize and reward key employees who have been instrumental in driving XYXX's growth, innovation, and success across various areas. This initiative reaffirms XYXX's commitment to empowering its dedicated workforce and fostering wealth creation for employees. Eligible employees are allowed to liquidate at a 6X premium on the allotted price with zero strike price.
XYXX’s ESOP buyback programme currently includes employees spanning from senior managers to heads of departments as well as executive leadership - all who have been instrumental in nurturing XYXX’s explosive growth over the last 7 years and leaving an indelible mark with their performance and initiative. With a majoritarily young workforce, the youngest participant in the buyback is 31 years, with the average age of employees participating standing at 36 years.
On the announcement Yogesh Kabra, Founder & CEO, XYXX comments, “Announcing our first-ever ESOP buyback is a proud moment for the leadership team, and especially me. It reaffirms my belief in the collective success of Team XYXX and the pivotal role they have played in our growth story. As a new-age, consumer brand start-up, we stand tall with leading fintech, ed-tech and e-commerce brands when it comes to wealth creation options for our workforce.”
XYXX is currently exhibiting explosive growth, with a CAGR of 100% and has also been awarded with Great Place to Work certification with a trust index of 88%. With this initiative, XYXX aims to continue to build a culture of inclusivity, collaboration, and empowerment. XYXX aims to build a stronger, more engaged workforce and drive continued success and growth in the years to come.
XYXX’s robust growth is enabled by strategic retail presence in an omnichannel module. With over 22,000+ touch points across the country, XYXX is also present on all leading marketplaces, ranking within the top two innerwear brands for three years consecutively. Currently valued at INR 61,091 crores, the Indian innerwear market is on a trajectory to touch INR 75,466 crores by 2025.
About XYXX
XYXX is a proud, homegrown men's lifestyle brand that specializes in underwear, loungewear and athleisure, made from distinctly premium fabrics and gives them a fashionably well-designed edge using cool colors, quirky prints and stellar designs. With its innovation-driven product play, XYXX focuses on technological prowess to deliver exceptional quality, hyper functionality as well as affordability. XYXX has a robust pan-India presence with over 22,000 touchpoints through top MBOs, a strong Modern Trade presence with Shoppers Stop, Reliance Trends amongst others as well as EBO’s in multiple key cities. XYXX products are available on their website (xyxxcrew.com) and consistently rank amongst the top 3 in most product categories on 14+ leading e-commerce marketplaces including Amazon, Flipkart, Myntra and Ajio.
Website: https://xyxxcrew.com/
