Eske Paris raises Rs 2.5 crore from Fluid Ventures, others
Direct-to-consume lifestyle brand Eske Paris has raised a total of Rs 2.5 crore ($330,499) in a seed funding round led by Fluid Ventures. Angel investors Divij Bajaj and Ankit Gera also participated in the funding round.
The brand will utilise the funds to expand its product range coupled with domestic and international expansion.
Commenting on the funding, Shivam Khanna, founder of Eske Paris in a statement said, “Our vision for Eské is extremely ambitious. Digital-first brands in our space have been able to scale to over $150million in revenue within five years. I believe we have the depth, hunger, and commitment to improve this and build one of the largest global D2C brands of the decade.”
“Furthermore, the pandemic has brought about some structural shifts in consumer choices and shopping behavior in India. With rising disposable incomes, the modern millennials are making a clear shift towards premium products, a trend that is set to accelerate in the coming decade,” added Khanna.
Eske currently generates majority on its sales from its website followed by other e-commerce marketplaces. The brand claims to have been profitable this year and aims to double its growth in the coming year.
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