Berrylush Raises Rs 8 Crore Funding from Klub for Strategic Growth
- ByStartupStory | June 14, 2023
Direct-to-consumer women’s fashion brand, Berrylush, has successfully raised Rs 8 crore ($1 million) in funding from Klub, India’s prominent revenue-based financing platform. The capital infusion will be utilized by Berrylush to drive strategic initiatives, bolster product offerings, and elevate customer experiences across multiple platforms. Furthermore, the company aims to expand its market presence across diverse segments and enhance its geographical reach through targeted investments. This funding marks a significant milestone for Berrylush as it seeks to propel growth and solidify its position in the fashion industry.
Commenting on the funding, Alok Paul, co-founder of Berrylush in a statement said, “We are thrilled to announce the successful fundraising round with Klub. This investment comes at a crucial juncture as we gear up for the festive season, where we anticipate a great surge of 80 percent as compared to 2022 in demand.”
Anurakt Jain, co-founder CEO at Klub added, “Berrylush has demonstrated impressive revenue growth of 5X in the last 2 years, and we are excited to support their journey. The company’s commitment to delivering high-quality products, coupled with their customer-centric approach, has positioned them as a preferred online fashion destination. We are confident that this investment will further accelerate their growth trajectory.”
Berrylush, a leading women’s fashion brand, has established its presence in the offline retail space with seven brick-and-mortar stores located in Noida, Delhi, Surat, Indore, Rohtak, Hisar, and Hyderabad. The brand proudly reports shipping more than 2 million products, resulting in a remarkable net revenue of around Rs 110 crore. Berrylush’s year-over-year growth rate has surpassed 80 percent, solidifying its position as a key player in the fashion industry.
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