Bazar India, Retail Chain in ‘Series-A funding’ raises funds
01 January 2022, Mumbai:
Bazar India, one of the leading retail brands and India's fastest growing fashion and lifestyle company has raised Rs25 crore in Series A funding on Planify Capital Platform. Bazar India will utilise the fund for expanding its team, marketing and branding, funding expansion plans and platform advancement.
The company has raised the current round led by Shashvat Nakrani, co-founder of Bharatpe, Sanjiv Maini, VP at Hindware group; Bhumika Srivastava, HR Director at Airbnb and other executives.
Bazar India has a PAN India presence with 55 stores in 51 cities and 13 states, providing a content-led lifestyle retail experience to its customers. Its retail chain offers a wide range of apparel and general merchandise at competitive prices and in the latest fashion, making it a popular destination for "under-served" India.
Bazar India motto "Fashion ke saath bachat bhi" can be truly identified from their range and the value of product portfolio they maintain all across their stores. Bazar India operates as "One Stop Shop", caters to the complete fashion needs of the entire family at most affordable prices.
Furthermore, the company has a strong presence in Northeast India, making it the top brand in the value segment. The company has a strong base of more than 4,500 employees.
The company earned a net profit after tax of Rs 1.8 Cr with a revenue of Rs 180 Cr during FY21 despite facing COVID-19 lockdown and restrictions. The company is valued at 750 crores at the moment. Atul Garg, CEO of Bazar India, stated,
" Bazar India is poised to be one of the most prominent players in the retail segment in North East India. Early investors will have a great opportunity to make excellent returns on their investments”.
BUSINESS STANDARD (The news article has not been edited by DFU Publications staff)
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
