The Label Life will use the funding from Kalpavriksh to expand the label, explore an omni-channel strategy and focus on collaborations, says CEO Preeta Sukhtankar
Mumbai: The Label Life, an e-commerce lifestyle brand backed by Kalaari capital, on Thursday announced that it has raised Rs20 crore ($3.1 million) from Kalpavriksh, Centrum group’s maiden private equity (PE) fund under Centrum Alternatives LLP.
The Label Life provides contemporary fashion, accessories and home décor styled by Bollywood celebrities Sussanne Khan, Malaika Arora and Bipasha Basu, typically catering to urban women aged 23 to 45 years living in the top ten cities of the country.
With the current funding from Kalpavriksh, the brand aims to expand its operations and partnerships.
“2018 will see new categories, new verticals, and new collaborations, which we know our discerning and growing customer base will love. Kalpavriksh’s team has a deep understanding of supply chain, operations and customer engagement, so we have a lot to benefit from this partnership. With Kalpavriksh’s investment, the brand’s immediate plans are to aggressively expand the label, double the SKUs, explore an omni-channel strategy and focus on collaborations and partnerships," said Preeta Sukhtankar, founder and chief executive officer of The Label Life.
The Label Life has collaborations with designers such as Falguni Shane Peacock and Payal Singhal. The brand is open to exploring relevant partnerships.
Kalpavriksha, which is the first private equity fund of The Centrum Group, a domestic financial services organization typically, invests in mid-sized, unlisted companies with a growth potential in fintech, education tech, healthcare and fast moving consumer goods (FMCG) sectors.
The Label Life is the second investment by Kalpavriksh this year. Earlier, it had invested in H.E.A.L, a Mumbai-based chain of physiotherapy centers, the statement said.
“Consumer centric businesses are at an inflection point in India and The Label life is well positioned to capitalize on this opportunity. The brand has demonstrated growth through innovation and strong customer engagement simultaneously with good unitary economics," said Giri Krishnaswamy, chief investment officer, Kalpavriksh.
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