Top News

Online fashion styling startup for women 20Dresses raises $1 mn in angel funding

Online styling
and personalisation startup for women 20Dresses has raised $1 million in angel
funding from investors including Srinivas Aluri, MD at Morgan Stanley,
ex-Lehman Brothers executive Srinivas Modukury and BS Nagesh, Founder of Trust
for Retailers.

Online styling
and personalisation startup for women 20Dresses has raised $1 million in angel
funding from investors including Srinivas Aluri, MD at Morgan Stanley,
ex-Lehman Brothers executive Srinivas Modukury and BS Nagesh, Founder of Trust
for Retailers.

20 dresses sells
its private label products across apparel, accessories, bags and shoes, and targets womenbetween
the age group of 18-35. The products are personalised to the specific tastes of
members using analytics. With the infusion of fresh funds, the company is
looking at investing further in technology, people and infrastructure, reports
the Economic
Times
.

20Dresses claims
to be growing at over 100% every quarter. Kasliwal says the firm has crossed
monthly run rate of `1 crore in sales and is targeting to achieve sales of `50
crore this year. The startup is competing with other player such as Voonik and
other private label ecommerce companies.

20Dresses was
founded in 2012 by Sumant Kasliwal, a venture capital & PE investor turned
entrepreneur who earlier worked with companies like Arthur Andersen, ICICI
Venture, STAR India and Microsoft.

“We only sell
our own brand which makes our products unique and allows us to maintain healthy
margins while still keeping our products at extremely competitive price points,”
Sumant Kasliwal, Founder and CEO told the Economic Times.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close