Jaipur Kurti's Nandani Creation to raise Rs 18.96 crore to boost products and market presence
Jaipur Kurti’s parent company Nandani Creation will raise Rs 18.96 crore in funding. The ethnic and fusion wear business plans to expand its product portfolio and deepen its market presence both online and offline.
The clothing business will raise the funds through the private placement of 14 lakh equity shares as well as 10 lakh warrants to a group of 29 investors through preferential allotment, ET Bureau reported.
“With the fresh funds, we will further strengthen our product portfolio and deepen our market presence through all channels,” said Nandani Creation’s founder Anuj Mundhra, TNN reported. “Currently, we sell our products through our own website, seven exclusive brand outlets in Rajasthan and Punjab, and through other major e-commerce platforms like Myntra, Ajio, Nykaa, Amazon, Tata Cliq, Flipkart etc.”
Mundhra launched Nandani Creation in 2012 and the business was an early adopter of e-commerce in the Indian fashion market. “Being one of the early movers, we were able to establish our brand in online retailing and have continued to work harmoniously with all major e-commerce platforms,” said Mundhra.
As well as Jaipur Kurti, Nandani Creation also owns fashion brands Desi Fusion and Amaiva by Jaipur Kurti. The business caters to a range of price points and designs, manufactures, and retails garments such as kurtas, suit sets, fusion sets, and lounge wear among others.
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