The Label Life, an online lifestyle brand of contemporary fashion, accessories and home decor has raised $3.1 Mn (INR 20 Cr) from Kalpavriksh, the Centrum’s maiden PE fund under Centrum Alternatives LLP.
Post this fundraise, Niraj Shah from Kalpavriksh will be joining the board of The Label Life, working closely with the operations and expansion plans in 2018.
The Label Life offers brands styled by Bollywood actresses Sussanne Khan, Malaika Arora and Bipasha Basu. The Mumbai-based startup was founded in November 2012, by Preeta Sukhtankar and Yashika Punjabee.
The startup also counts Mithun Sacheti (Co-founder of CaratLane), and Haresh Chawla (Partner at True North) as its investors.
Preeta Sukhtankar, Founder and CEO, The Label Life said “Kalpavriksh’s team has a deep understanding of supply chain, operations and customer engagement, so we have a lot to benefit from this partnership. With Kalpavriksh’s investment, the brand’s immediate plans are to aggressively expand the label, double the SKUs, explore an omni-channel strategy and focus on collaborations & partnerships.”
The Label Life aims to provide an immersive online shopping experience to the users, whose customers are usually women between the ages of 23-45 years. The company claims that more than 75% of its customers are urban working women.