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Reliance Capital & Singapore Company Invests Over $1 Mn In Gurgaon Based Luxury Hues

Reliance Capital & Singapore Company Invests Over $1 Mn In Gurgaon Based Luxury Hues

Gurgaon-based startup Luxury Hues, a marketing consultancy and shopping venture for luxury goods has raised about $1 Mn (INR 6 Cr.) in a funding round from Reliance Capital and investment banker Ravi Viswanathan.

Luxury Hues was founded in 2009 by Amit Dutta and Peter Raj Kapoor. According to Dutta, co-founder of Luxury Hues, the portal will offer high-end brands at ‘the best wholesale’ prices. However, it won’t be a platform for top luxury brands such as Dior, Prada, Louis Vuitton or Gucci, but more for next-in-line labels that are ‘more affordable.’

Reliance Capital and Viswanathan already own minority stakes in Grover Vineyards and Sula Vineyards.

With an aim to bring in more high-street international fashion brands in the country, Viswanathan said, “The plan is to retail five to 10 brands here. I cannot disclose the exact numbers in terms of investment and shareholding, but we might put in anywhere between $40 and $100 Mn in different ventures.”

The startup will mainly target families who have an annual income of about INR 50 lakh and will offer EMI options with made-to-measure products like watches and competitive pricing & a control on supply logistics.

Reliance Capital is engaged in providing services around finance & investment, asset management, general insurance, broking businesses, consumer finance and asset reconstruction.

It also has an early-stage alternative investment arm called Reliance Venture Asset Management, which had recently invested in Bangalore-based Naffa Innovations Pvt Ltd.

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Vishal Singh

Inc42 Staff

For Vishal Singh, football is oxygen, traveling is living, night is day, online gaming is serious sport and superheroes are real. Yes, real. And like the call sign of any superhero, one can always find him enrapt to his laptop screen. His passion lies in writing pieces that would get the brain engines of readers churning and aspires to one day be known by his opus.

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