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

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Pranav Mishra
Huemn

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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