Absolute Brands and Retail Secures $2.5M in Seed Funding to Fuel Expansion and Innovation

• ByStartupStory     |    December 14, 2023

Fashion and lifestyle startup, Absolute Brands and Retail, has successfully raised $2.5 million in its seed funding round, led by Capstone Ventures and featuring participation from several angel investors. Launched this year by Vishnu Prasad, former MD and CEO of fashion and lifestyle retail chains Central and Brand Factory, Absolute Brands is on a mission to establish a network of in-house fashion apparel brands targeting diverse customer segments.

The recently secured funding will play a pivotal role in realizing Absolute Brands’ vision. The startup, known for its commitment to addressing unmet customer needs, is set to utilize the capital to create an offline retail presence for its first brand, Big Hello. Additionally, investments will be directed towards technological innovation to develop a robust omnichannel presence.

In the coming months, Absolute Brands plans to set up retail stores in key cities like Bengaluru, Chennai, and Hyderabad for its Big Hello brand, catering specifically to Indian plus-size customers. Vishnu Prasad emphasized that the startup aims to launch multiple sharply focused apparel brands, revolutionizing the fashion industry and meeting the unique requirements of Indian consumers.

Absolute Brands envisions expanding its physical presence aggressively, with a target of establishing 500 retail stores across India in the next three years. The startup also plans to introduce three new fashion brands, leveraging cutting-edge technologies and an omnichannel shopping experience. This approach seeks to redefine the fashion shopping landscape, offering personalized solutions aligned with individual preferences, values, and needs.

The funding round comes at a time when the fashion and apparel market in India is witnessing a surge in startup activities. With rising disposable incomes and increased digitization, startups are aiming to fulfill the unmet needs of customers and secure a share in the fast-growing segment.

In a parallel development, men’s fashion brand Snitch announced raising INR 110 Crore ($13.19 million) in a funding round co-led by SWC Global and IvyCap Ventures. Snitch plans to utilize the funds to scale up its talent and technology, as well as to establish an offline retail strategy.

According to Inc42’s analysis, the fashion and apparel market in India stood at $20 billion in 2022 and is projected to grow to $112 billion by 2030 at a remarkable 24% compound annual growth rate (CAGR). Absolute Brands and Retail’s strategic funding positions it favorably to contribute significantly to this dynamic and expanding market.

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