Fashion and lifestyle startup Absolute Brands has raised Rs 21 crore ($2.6 million) in its seed funding round from investors, including Capstone Ventures, and other angel investors.
The company will utilise the funds to create offline stores for its first plus-size apparel brand, Big Hello.
Absolute Brands will start its offline expansion by opening Big Hello stores in Bengaluru, Chennai, and Hyderabad.
Additionally, investments will be directed towards technological innovation to develop a robust omnichannel presence.
Commenting on the funding, Vishnu Prasad, founder CEO of Absolute Brands in a statement said, “We are thrilled to have the backing of Capstone Ventures and other investors at such an early stage of building Absolute Brands and puts us on a solid footing as we work towards executing our vision of launching multiple sharply focused apparel brands that address unmet needs of Indian customers, open up new segments, and reset the status-quo in the fashion industry.”
Absolute Brands envisions expanding its physical presence aggressively, with a target of establishing 500 retail stores across India in the next three years. The startup also plans to introduce three new fashion brands.
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