Menswear brand Barcelona receives Rs 5 crore investment, plans 50 new stores

By

Isabelle Crossley

Published
Apr 13, 2023

Menswear brand Barcelona has received a Rs 5 crore equity-free capital investment from GetVantage and aims to use the funding to open around 50 stores this financial year. The brand currently counts over 130 exclusive brand outlets across India in over 70 cities and has also recently filed for an initial public offering. 

“Our vision is to build India’s largest retail network of multi-brand outlets through our men’s Fashion brand Barcelona and we are quite close to attaining that target,” said Barcelona’s managing director Jaimin Gupta, Indian Retailer Bureau reported. “Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. Fortunately, revenue-based finance in India is gaining popularity and helping SMEs like us grow exponentially. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds.”

Jaimin Gupta launched Barcelona in Ahmedabad in 2015 to offer a selection of premium menswear. As well as its business-to-customer outlets, the brand also runs a business-to-business mobile app which enables apparel retailers to purchase Barcelona’s stock wholesale. The app currently has around 7,000 apparel retailers registered on it and Barcelona aims to onboard 1 lakh retailers in the 2024 financial year. 

“Menswear is having a bit of a renaissance movement in India as the male consumer becomes more discerning in their taste for fashion,” said GetVantage’s chief growth officer Karun Arya. “This evolving consumer behaviour is helping new-age brands grow the overall market significantly. At GetVantage, we are excited to help businesses like Barcelona capitalise on this whopping $20 billion-dollar apparel opportunity. We’re thrilled to support founders like Jaimin who can spot trends not just in fashion but in funding too on their way to a successful IPO!”