5th August 2021
Mumbai-based youth casual wear brand, The Souled Store plans to expand its product portfolio in both licensed merchandize and casual wear. The brand has raised Rs 75 crore in Series B funding for this purpose. The funding round was led by Elevation Capital and its participants included Sahil Barua, Co-Founder, Delhivery; Gunjan Soni, CEO, Zalora and Ashish Goel , Founder, Urban Ladder. Other investors included Rohit Kapoor CEO, INSEA at OYO; Mukund Kulashekaran, SVP-Business, Urban Company and Varun Duggirala, Co-Founder, The Glitch.
The funding would help the brand increase consumer awareness and offline retail presence pan India, expand manufacturing capabilities, and focus on recruiting activities.
Founded in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney, and Harsh Lal, The Souled Store is one of the first brands to bring in licensed merchandise and is currently India’s largest fan merchandise destination with licenses including Disney, Warner Bros, WWE, IPL teams, EPL Teams and Viacom18. The company designs, manufactures and retails a wide range of apparel products with designs ranging from pop-culture themes like superheroes (Marvel and DC universes), movies (Star Wars, Harry Potter), TV shows (Friends, Game of Thrones), and cartoons (Looney Tunes, Tom & Jerry), and has partnered with over 150 franchisees.
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