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Online retailer Unamia raises $1.2 million

The online kidswear retailer raised funds from PE firms Blume Ventures and Angel Prime
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First Published: Wed, Oct 17 2012. 07 10 PM IST
The Indian kidswear market is valued at Rs 38,000 crore and is growing 20% annually, according to the Associated Chambers of Commerce and Industry of India. Photo: Mint
The Indian kidswear market is valued at Rs 38,000 crore and is growing 20% annually, according to the Associated Chambers of Commerce and Industry of India. Photo: Mint
Updated: Wed, Oct 17 2012. 07 19 PM IST
Bangalore: Online kidswear retailer Unamia raised $1.2 million in funds from private equity firms Blume Ventures and Angel Prime.
Unamia, which started operations last December, works on a ‘co-creation’ model in which the company takes suggestions from customers about styles and designs and then delivers clothes accordingly. The Indian kidswear market is valued at Rs 38,000 crore and is growing 20% annually, according to the Associated Chambers of Commerce and Industry of India.
“Macro trends are firmly in Unamia’s favor,” said Shripati Acharya, managing partner at Angel Prime. “With a huge yet fragmented market, the kidswear industry requires radical innovations in product development and retail. Unamia’s co-creation model may well hold the key.”
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First Published: Wed, Oct 17 2012. 07 10 PM IST
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