In an announcement made today, IAN, Harvard Angels and Orios Ventures have invested in PrettySecrets; an online brand which offers lingerie, nightwear, swimwear, shape wear & accessories. The amount has not been disclosed. The investment was led by Rehan Yar Khan, IAN member, and Farooq Oomerbhoy, co-invested by Harvard Angels & Orios Venture Partners. The investment also saw participation from Allia Al Rufai, Stylist and previously the Jr. Fashion editor of Harpers Bazaar India.
Karan Behal, Founder & CEO, PrettySecrets comes from a family background of manufacturing and exporting ladies nightwear for over 30 years. He is well versed with the industry with considerable experience in the lingerie retail segment, having been a part of a chain of lingerie stores “Lace – The lingerie club” earlier. With PrettySecrets.com Karan has brought this experience in the online space with an ecommerce store. “We went online with PrettySecrets.com 8 months ago. We realized that the online ecosystem is far more interesting and exciting and definitely apt for the brand we wanted to create. Great that we have investors like the IAN who has invested in us to take our business to the next level,” shares Karan Behal, Founder, PrettySecrets.com
Pretty Secrets currently offers around 700 products. 70% of their products are exclusive Pretty Secrets lingerie apart from other known brands in the market. Targeted on the II and III tier cities and towns, Pretty Secrets is looking to penetrate this market through their exclusive products under their private label – Pretty Secrets that will not available for customers in other offline or online stores. The store will also offer a wider category of products including shape wear, night wear, thermal wear, dress ups, stockings etc.
Rehan Yar Khan, an IAN member who led the investment in PrettySecrets and will be taking the board seat said, “Continuing on our theme of backing e-brands, we are optimistic of the success of Pretty Secrets, which addresses a large and underserved segment in India. In Karan Behal we have a founder with strong domain expertise, which makes all this possible.”
The angel investment will be used for scale back end, logistics, customer service, build supply chain, enhanced product catalogue and most of all for marketing the brand. So far, PrettySecrets.com has shipped out over 15000 products.
Talking about the space, Karan added, “The Indian lingerie segment is exciting and given the size of our consumer economy and the relative infancy of the lingerie segment, this is a vast under-served market. Our experience in lingerie sourcing & manufacturing, brand building, front end retail and distribution make us well equipped to take the lingerie ecommerce segment by storm and deliver a superior value proposition. We feel proud to be a part of the Indian Angel Network as they will help us scale up our business and provide us with required mentoring and guidance. ”