Zouk operates within the luggage, wallets and footwear classes and it plans to speculate the funds to advertise its model, broaden its collections, rent extra folks, strengthen its provide chain, and open offline shops.
The startup mentioned that it plans to open 5 model retailers this yr. It already has a presence in over 50 retail touchpoints.
Zouk final raised a $1.5 million funding spherical which was once more led by Stellaris Enterprise Companions.
The corporate is understood for making Peta-approved luggage and different merchandise utilizing “vegan leather-based”. The startup claims to have grown 10x since its final funding spherical.
“The subsequent 18 months are going to see some thrilling issues from our aspect,” mentioned cofounder Disha Singh. “We’re quickly increasing our assortment on the baggage and footwear aspect, to supply a wider assortment of Proudly Indian merchandise. Our current launches of Backpacks, Baguettes and Clutches have been a giant hit.”
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The deal comes at a time when the shortage of funding within the startup house has led to distres gross sales within the D2C house. Goat Model Labs, backed by Flipkart Ventures and Tiger World, acquired Chumbak, together with different D2C manufacturers in January in a hearth sale.Conventional brick-and-mortar corporations like Unilever, Aditya Birla Group and ITC have additionally acquired a number of D2C manufacturers like Oziva, Wellbeing Vitamin, Yoga Bar, and Bewakoof amongst others.
“We’ve got been impressed with Zouk’s capital-efficient progress. We thus determined to double down on our funding,” mentioned Rahul Chowdhri, Associate at Stellaris Enterprise Companions. “With the enlargement in footwear, the upcoming offline foray and the brand-building initiatives deliberate, we’re excited with what’s in retailer from Zouk.”