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Youshine to raise Rs 25 crore to scale up business
13
Apr '15
Youshine, an omni-channel fashion jewellery and accessories retail brand, catering to young, cosmopolitan Indian women has announced its plans of raising Rs 25 crore from venture capital and private equity firms for scaling up business in India and optimising revenues. 
 
Youshine said it had previously raised $1.5 million between 2012 and 2014 through self-funding from the founders and from Angel Investors based in Switzerland. The company also plans to foray in international markets in West Asia and Africa.
 
Started by serial entrepreneurs Ashish Sood and Monika Sood in 2008, Youshine has grown from a few kiosks in 2008 to 15 exclusive brand outlets (9 are slated to open by end of 2015) along with a highly successful online portal. Catering to young, cosmopolitan Indian women, the brand in the second year itself witnessed a whopping 200 per cent growth. Youshine claims it has consistently notched up double digit growth every year since then. 
 
The company’s target is to become the number one Indian brand for fashion jewellery and accessories by 2018 with 100 outlets across India in the next three years with expected revenues of Rs 100 crore.
 
Youshine claims it has not only successfully established its brand name in imitation fashion jewellery market but has also successfully built an efficient supply chain management which is the backbone of its success. The brand boasts to be the only brand in India which launches five new high fashion jewellery products every day without a repetition, which is something not followed by any other retailer in the same space.  
 
Youshine says it has strong partnerships with top e-commerce fashion marketplaces in the country such as Myntra, Koovs, Jabong, Amazon and  Flipkart  amongst others to boost sales. (SH) 
 

Fibre2fashion News Desk - India


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