Zouk raises $3 million in funding, plans product and offline expansion
Direct-to-customer accessories and lifestyle brand Zouk has raised $3 million in a strategic funding round led by existing investor Stellaris Venture Partners. The business plans to expand its product offering as well as its offline operations.
Zouk’s funding round also saw participation from businesses including Sharrp Ventures, Titan Capital, and the JJ Family Office as well as Deutsche Bank India’s CEO Dilip Khandelwal and Atomberg’s CEO and founder Manoj Meena among others, the business announced on Facebook. The business plans to strengthen its supply chain to enable it to expand its retail reach across India.
“The next 18 months are going to see some exciting things from our side,” said Zouk’s co-founder Disha Singh, Inc42 reported. “We will further see our first set of brand outlets. We will also be building our brand awareness, having hit early product-market fit now. The biggest investment though will be on expanding our team and strengthening our supply chain.”
In order to facilitate its expansion, Zouk plans to hire across its business, including for leadership roles and for its marketing team. Zouk launched in 2016 with an investment of Rs 20 lakh and a line of cruelty free and vegan handbags. The brand has since ventured into footwear and accessories including wallets.
This year, Zouk plans to open five exclusive brand outlets in India. By expanding offline, the business is confident it can become a Rs 1,000 crore company in the coming five years.
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