Home / Knowledge / News / Fashion / Fashion startup Styletag.com secures Rs 50-cr funding
Fashion startup Styletag.com secures Rs 50-cr funding
19
Nov '15
Styletag.com, India's first online curated fashion and lifestyle startup has announced that it has raised Rs 50 crore in angel funding from Jitu Virwani, Chairman & Managing Director, Embassy Group. The investment has been made in his own personal capacity, Styletag.com said in a press release. Embassy is one of India's leading property developers with a track record of over three decades.

Styletag.com that makes luxury products accessible in the form of a flash sale model, caters to fashionistas who have an eye for style and avant-garde designs within an affordable range.

The company will use the funds to further expand their range of private labels, acquire a medley of other designer brands and strengthen its team to complement their capabilities.

Speaking on this Sanjay Shroff, Founder & CEO, Styletag.com said, “Technology innovation has always been at the forefront of our business. While we have grown exponentially since our launch, we are committed to inspiring our customers with superior lifestyle, through an engaging and enriching experience and by being ahead of the curve in the lifestyle and fashion segment."

Commenting on his funding of the Styletag venture, Jitu Virwani, Chairman & Managing Director, Embassy Group said, “Similar investments have been carried out in the past from my end into projects that have been extremely fruitful. I find the start-up e-commerce space a very exciting one and it is an extremely dynamic and upcoming market. Through similar investments, I want to encourage players in the startup space.”

Styletag.com was created to trigger a liaison between the best of couture and affordable fashion and the people based in and around smaller cities across the country. With a thorough understanding of the fashion quotient of both Indian men and women across age groups, Styletag.com offers fresh fashion every day, with a unique blend of ethnic and western wear.

Styletag.com foresees scaling up to 100 omni-channel models across the major cities of the country in less than two years and becoming a prominent player in the fashion segment. While its brick and mortar presence will aid in brand building, the company aims to aggressively retail through online commerce to successfully reach out to style aficionados.

The company is looking to establish its Gross Merchandise Value of the equivalent to anywhere between Rs 50 to Rs 70 crore by the end of this year. Its current growth projections indicate that the company is soon to achieve the milestone of 1 lakh unit orders this festive season. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Judy Frater
Somaiya Kala Vidya

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Aditi Somani
Aditi Somani

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

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

August 2017

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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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