House Of Brands Company raises funds from ah! Ventures
Direct-to-consumer (D2C) start-up House of Brands Company (HOBC) has raised seed funding from ah! Ventures. Other investors like Lets Venture also participated in the funding round.
The company will utilise the brands to strengthen its portfolio in the fashion and lifestyle segment by acquiring brands in this space.
The start-up claims that it has added five premium brands in the fashion and lifestyle segments over the last six months and plans to acquire eight more by the end of the financial year.
Commenting on the funding, Sreelaj John, co-founder of HOBC in a statement said, “We wish to concentrate on bringing high-end brands to the Indian population. Further, this segment of 15-20 million upper-middle-class customers forms only 1 percent of the Indian population but generates 70 percent of all ecommerce revenue in India, making this group the ideal market for any D2C brand.
Sachin Garg, venture partner at ah! Ventures added, “House of Brands Company has an extremely profitable business model and it's showing amazing traction with a good pipeline of upcoming D2C brands. Nearly zero inventory model and vendor integration with the help of technology has resulted in inventory cost optimisation. Founders are also very experienced in both fashion and supply chain which are two most important pillars of this business.”
HOBC competes with a host of start-up in this space like Mensa Brands, G.O.A.T Brand Labs, GlobalBees, Evenflow, Powerhouse91,UpScalio and 10Club among many others.
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