Home / Knowledge / News / Fashion / Luxury Couture raises $7.5 mn in preliminary funding
Luxury Couture raises $7.5 mn in preliminary funding
12
Nov '15
One of India's fastest growing apparel and accessories brand, Luxury Couture Private Ltd, has recently raised $7.5 million preliminary investment for 10 per cent equity in the company, raising its valuation to $75 million. East Coast-based W&B Venture Capital Inc. has bought 10 per cent equity in the company, Luxury Couture said in a press release.

The New Delhi-headquartered company claims that in a very short period, it has caught the attention of global investors who keep an eagle eye on return on investment from both domestic and international markets.

Luxury Couture sells all kind of dresses, footwear in USA and India. The preliminary funding would be utilized essentially to enhance the company's outreach through marketing and technological intervention. Apart from this, these funds will be used for operational and logistic expansion, the release said.

Luxury Couture aims to become online market leader with adequate (25-30 pe cent) market share within the next two years.

The promoters of the company including Piyush Saxena (Director) and Raghvender Kumar (Director) are global entrepreneurs. Luxury Couture's financial performance is very promising and its revenue was up by 20 per cent in the last financial year. Last year, the company had turnover of Rs 8.72 crore and, in the current fiscal (FY15-16), the company is expected to touch Rs 75 crore, which is a 50 per cent growth.

"Preliminary funding would enhance our operational efficiency and outreach. We believe that the speed at which a customer receives an online purchase plays a very important role in how that customer thinks about shopping online again in the future; so at www.luxecout.com, we have put a lot of focus on making sure the items get delivered to our customers as quickly as possible," Saxena said. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pakistan’s FBR imposes 5% sales tax on cotton import

Textiles | On 21st Jul 2018

Pakistan’s FBR imposes 5% sales tax on cotton import

Pakistan’s Federal Board of Revenue recently withdrew sales tax...

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Textiles | On 21st Jul 2018

Bangladesh drafts policy for Tk1,000 cr govt jute fund

Bangladesh will set up a Tk10,000-crore Jute Sector Development Fund...

Ahmad A. Al Sa’adi and Kwon Pyung-Oh display a comprehensive Memorandum of Understanding; Courtesy: Saudi Aramco

Textiles | On 21st Jul 2018

Saudi Aramco, KOTRA sign MoU for business cooperation

Saudi Aramco has signed an MoU with the Korea Trade-Investment...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Suresh Patel
Sidwin Fabric

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search