Online fashion store Pernia’s Pop-Up looks to funds top up
Indian online luxury fashion store Pernia’s Pop-Up shop is in talks with investors to top up funds up to $1-1.5 million (around Rs 6.5 to 9.5 crore) in its first round of funding, founder Pernia Qureshi said.
The online fashion website, which recently launched “Sketch to Reality”, a new Augmented Reality online shopping facility is looking to expand its customer base across the country and wants to use the funds for marketing and hiring purposes.
“We have established our brand quite well and organic growth has been quite good so far, but there is always a potential to reach out to customers. So, our primary objective is to use the funds in marketing and enhancing the customer base,” Qureshi was quoted as saying by the Mint.
India’s online fashion market is growing rapidly with leading e-commerce players like Myntra, Jabong, Amazon, Snapdeal and Flipkart holding a dominant share of the market. However, designer wear online retailers like Pernia are unfazed by that as they exclusively cater to the upper and middle-class segments in India coupled by the NRI segment. There is huge demand for premier designers especially wedding wear in this segment who turn to luxury platforms for their wedding shopping needs.
Apart from selling top Indian designers, Pernia Qureshi has also launched her own women’s wear collection to increase the revenue of the company.
It is no secret that private labels give better returns as compared to those by other designers, so it no surprise that fashion online stores too are following in the footsteps of major e-commerce firms like Myntra to launch their own labels to further boost growth.
Pernia Qureshi, leading stylist and fashion icon had launched her e-commerce venture in 2012 to make India’s premier designers accessible to a global clientele.
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