Lightbox Ventures invests $8 million in Bombay Shirt Company
Bombay Shirt Company (BSC) has raised $8 million (Rs 56.6 crore) from Mumbai-based venture capital firm Lightbox Ventures.
The company will be using the funds towards automating its production and expansion of its retail presence. It also plans to diversify its product portfolio by getting into trousers and denims.
Bombay Shirt Company founded in 2012 by Akshay Narvekar has a strong online presence along with physical outlets across leading metros in India.
“The apparel industry is ripe for disruption. The trend of ‘fast fashion’ has caused reckless consumption which leads to a host of negative externalities. We at Bombay Shirt Company aim to propagate the notion of slow fashion – a much more careful and considered way to consume apparel,” Akshay Narvekar, founder of Bombay Shirt Company, said in a statement.
“Our focus is on personalising the journey for every customer by producing garments unique to them while ensuring zero inventory and wastage; implementing this through advanced automation,” Narvekar added.
Currently, BSC has 16 stores across India and a store each in Dubai, and New York. It plans to further expand its retail presence and aims to reach a store count of 50 over the next 18 months.
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