The Souled Store, RP-Sanjiv Goenka Group-backed start-up, is planning to raise around Rs 75 to Rs 100 crore to fuel expansion. The company plans to use these funds to strengthen its supply chain, new marketing initiatives that include celebrity endorsements and ramping up omni-channel presence.
The company’s prime focus will also be on marketing, apart from this it also plans to rework supply chains and improve warehousing to speed up deliveries to meet their target of Rs 1,000 crore over the next four years.
The Souled Store will also re-focus on offline store expansion. There are some deals with malls that the company is in discussion with however, this did not materialize due to the lockdown and the pandemic. The Souled Store, launched in 2003, retails a range of licenced products including clothing, underwear, socks, shoes, and bags. The brand holds the India licence for a range of international franchises such as WWE, Disney, and Warner Bros as well as Indian pop culture phenomenon such as Pro Kabaddi League, musicians, and stand-up comedians among others.