Home / Knowledge / News / Apparel/Garments / Universal Sportsbiz secures Rs 46 cr funding
Universal Sportsbiz secures Rs 46 cr funding
09
Jul '15
Universal Sportsbiz Pvt Ltd (USPL), the celebrity fashion and memorabilia company, has secured Rs 46 crore ($ 7.5 million) from existing investor Accel Partners in a second round of funding, according to media reports.

The funding follows the initial investment by Accel Partners of Rs 17.25 crore in July, 2012. The present round of funding will be invested on foraying into new markets and segments.

USPL Founder Anjana Reddy said: "The additional capital will accelerate our expansion plans of foraying into new markets and newer segments consolidating our pole position in the celebrity fashion line industry."

USPL, backed by cricket legend Sachin Tendulkar is the only home-grown Indian company with significant presence in the multi-billion dollar celebrity fashion lines business with three distinct offerings.

Founded in April 2012, USPL’s portfolio of leading brands include Wrogn, a premier fashion brand inspired by Virat Kohli, Imara, a contemporary women’s ethnic fashion brand with Shraddha Kapoor and Collectabillia, which e-tails sports, and entertainment-based fashion accessories.

USPL will deploy the funds raised through the just concluded Series-B funding to expand the distribution network for Wrogn and Imara across the country as also scaling up the branding efforts for the company’s offerings. It plans to enhance the network presence from 30 stores to over 75 stores for Imara and from 38 stores to 70 stores for Wrogn.

Riding on the success of Imara, USPL also plans to introduce Imara Fusion, extending the brand’s core product philosophy of creating new tales of fashion, to develop contemporary designs for work and casual wear. For Collectabillia, USPL plans to extend its range of fashion accessories forging alliances with 10 leading iconic and celebrated personalities. As an extension of this initiative, Collectabillia will also seek to identify and engage untapped talent for developing and sourcing designs for its line of fashion accessories.

“We have a hybrid model where we use both offline and online sales for these brands," Reddy said.

“The next phase in the evolution of fashion e-commerce would be dominated by brands. As the pressure to improve margins in horizontal commerce and market places increase, good brands will provide the answer. USPL has an online and offline strategy for distribution. They have done an excellent job in building three great brands and have global aspiration in the near future ,” said Mahendran Balachandran, Partner, Accel Partners India. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Top executives
Textile industry, India

The event should be organised every year

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search