Barcelona, the emerging men’s fashion brand, raises INR 5 crores in equity-free funding from GetVantage
- ByStartupStory | April 13, 2023
Ahmedabad-based fashion brand Barcelona has raised INR 5 crores in equity-free capital from GetVantage, India’s leading non-dilutive funding marketplace and growth platform. The premium men’s apparel brand, founded by Jaimin Gupta in 2015, offers a wide range of clothes, including shirts, t-shirts, jeans, trousers, shorts, and other fashion accessories.
With over 130 exclusive brand outlets (EBOs) in more than 70 cities across India, Barcelona has become one of the fastest-growing apparel brands in the country, leading the D2C space in apparel. In addition to its EBOs, Barcelona operates a B2B app that allows for wholesale sales of their stock to apparel retailers. They have over 7,000 registered garment retailers on the app and aim to onboard 1 lakh retailers in FY 24.
The funding from GetVantage will be used to open around 50 new outlets across the country in the upcoming financial year and increase marketing efforts. Barcelona has also appointed Sonu Sood as its brand ambassador to create brand recall in towns beyond the metros.
Jaimin Gupta, Managing Director, Barcelona said, “Our vision is to build India’s largest retail network of multibrand outlets through our men’s Fashion brand BARCELONA and we are quite close to attaining that target. Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. Fortunately, revenue-based finance in India is gaining popularity and helping SMEs like us grow exponentially. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds.”
Barcelona has filed for an IPO and has been growing at a CAGR of 7.6%, with a topline of Rs. 175 crores in FY 23. The company is betting big on the burgeoning demand for men’s fashion in India, especially from Tier 2 and 3 markets due to increased awareness of fashion on various social media platforms.
GetVantage, founded in 2019 by Bhavik Vasa and Amit Srivastava, has amassed a portfolio of over 500 new-age businesses, especially in D2C, while diversifying into more sectors such as B2B SaaS, eCommerce, EV, and Cleantech. GetVantage is bullish on its investments in the D2C space, given that over 40% of its portfolio consists of D2C brands. The company is focused on scaling its funding marketplace 20x in 2023 and is also working with marquee NBFCs and Family Offices to facilitate growth capital investments for the D2C and new-economy brands that are looking to scale up.
Karun Arya, Chief Growth Officer at GetVantage shared, “Menswear is having a bit of a renaissance movement in
India as the male consumer becomes more discerning in their taste for fashion. This evolving consumer behavior is
helping new-age brands grow the overall market significantly. At GetVantage, we are excited to help businesses like
Barcelona capitalize on this whopping $20 billion-dollar apparel opportunity. We’re thrilled to support founders like
Jaimin who can spot trends not just in fashion but in funding too on their way to a successful IPO!”
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