Company Name : Styletag
Funding Amount : Rs 50 crore
Investor(s) Jitu Virwani . .
Funding Round : Angel round
Styletag, an online curated fashion startup has announced that it has raised Rs 50 crore in angel funding from Jitu Virwani, Chairman and Managing Director, Embassy Group. The investment has been made in his own personal capacity.
The company will use the raised funds to further expand their range of private labels, acquire a medley of other designer brands and strengthen its team.
Sanjay Shroff, Founder and CEO, Styletag, said, “Technology innovation has always been at the forefront of our business. While we have grown exponentially since our launch, we are committed to inspiring our customers with superior lifestyle, through an engaging and enriching experience and by being ahead of the curve in the lifestyle and fashion segment.”
Styletag foresees scaling up to 100 omni-channel models across the major cities of the country in less than two years.
The company is looking to establish its Gross Merchandise Value of the equivalent to anywhere between INR 50 to 70 crore by the end of this year.