Premium e-commerce firm ‘The Label Life’ raises Rs20 crore, to use funds on expansion
Indian e-commerce lifestyle firm ‘The Label Life’ has raised Rs 20 crore (approx $3.1 million) from Kalpavriksh, first private equity fund of the Centrum Group. The company will use the funds to expand its base in India and also sign strategic partnerships for growth.
In 2013, The Label Life had raised funds worth US$ 500,000 from a clutch of angel investors and US$1 million (approx 6 crore) from Kalaari Capital, a Bangalore-based VC fund.
The Label Life had recently collaborated with designer Payal Singhal to create a capsule collection entitled “La Vie en Rose” and further exploring more such partnerships with designers, brands that will help the firm expand its presence across the country.
“With Kalpavriksh’s investment, the brand’s immediate plans are to aggressively expand the label, double the SKUs, explore an omni-channel strategy and focus on collaborations and partnerships,” said Preeta Sukhtankar, founder and chief executive officer of The Label Life in a statement.
The Label Life has already partnered with some of the leading names in fashion and Bollywood offering collections by Sussanne Khan, Malaika Arora, Bipasha Basu, Falguni Shane Peacock, among many others.
“Consumer centric businesses are at an inflection point in India and The Label life is well positioned to capitalize on this opportunity. The brand has demonstrated growth through innovation and strong customer engagement simultaneously with good unitary economics,” said Giri Krishnaswamy, chief investment officer, Kalpavriksh.
The Mumbai based Label Life was founded by Preeta Sukhtankar and co-founded by Yashika Punjabee in November 2012. It sells premium products in home décor, clothing and accessories.
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