Deepak Gaur – Stock and relaxed wear brand The Souled Store has brought Rs 75 crore up in series B subsidizing, drove by Elevation Capital. The organization expects to utilize the funding to extend its item portfolio on authorized stock and relaxed wear, fabricate more brand mindfulness, grow disconnected retail presence across India, extend producing abilities, and increase recruiting. “We plan to cross Rs 1,000 crore in GMV [gross stock value] by 2025,” says Vedang Patel, prime supporter and CEO, The Souled Store.
“Today, we’ve turned into the one-stop objective for everything mainstream society in the country.”
For Elevation Capital, backing The Souled Store came on the rear of scale accomplished by the organization in a capital-proficient way. “The Souled Store has effectively profited by India’s mainstream society,” says Deepak Gaur, accomplice, Elevation Capital. The development of the organization, he lets on, is a consequence of its tenacious spotlight on client experience to drive faithfulness, and information driven promoting to oversee stock and keep tasks lean. The most recent round of financing likewise saw support from a grasp of private backers, including Sahil Barua (fellow benefactor and CEO of Delhivery), Gunjan Soni (CEO of Zalora and previous CMO of Jabong), Ramakant Sharma (pioneer and COO of Livspace), and Ashish Goel (organizer behind Urban Ladder).
The patrons are additionally dazzled with the development of the organization throughout the course of recent years. The Souled Store’s enormous development since its beginning, and through the Covid-19 pandemic, is representative of sheer client love and execution greatness of the establishing group, underlines Abhishek Goenka of RPSG Ventures. “We are exceptionally bullish on the achievements they intend to accomplish before very long,” he adds.
Established in 2013 by Vedang Patel, Aditya Sharma, Rohin Samtaney and Harsh Lal, The Souled Store was quite possibly the earliest brand to acquire authorized stock. The organization plans, makes and retails an extensive variety of clothing items with plans going from mainstream society subjects like superheroes (Marvel and DC universes), films (Star Wars, Harry Potter), TV shows (Friends, Game of Thrones), and kid’s shows (Looney Tunes, Tom and Jerry), and has cooperated with north of 150 franchisees. The startup offers reasonable fan stock clothing to web clever, millennial and Gen-Z buyers. The organization professes to have 836,000 devotees on Instagram and around 2 lakh day to day guests on the site and application.
Throughout the course of recent years, the organization likewise broadened their item blend from fan product and fundamental brand T-shirts to incorporate other clothing, for example, athleisure, easygoing dresses, pullovers, and parlor wear. The organization was bootstrapped for the initial five years and got seed subsidizing from RPSG Ventures in November 2018. From that point forward, the organization has developed over 4X, claims Patel.
