SHR Lifestyles Private Limited, which runs and owns women's ethnic wear brand Shree, has raised Rs 80 crores equity capital in it's first outside equity capital raise from Alpha Capital Advisors. Anand Rathi was the exclusive advisor to SHR Lifestyles in the deal.
With this funding, Shree will deepen its reach in existing markets and expand presence in new geographies, said the company in a statement.
Chairman and MD of SHR Lifestyles, Sandeep Kapoor, added,
"We will be deploying the funds to expand our distribution network by setting up new retail stores, scale up our business geographically, add senior talent and increase our customer base. This partnership will further help the brand materialise its vision of growing to over 300 stores in the near future.”
Vishal Ootam, CEO of Alpha Capital, said,
"We are extremely excited to welcome Shree to the Alpha's Connected Capital ecosystem. This is exactly the kind of founding team that we are happy to back and we believe this opportunity is very scalable in a sector that is hugely profitable."
Launched in 2009 by Sandeep Kapoor and Sheetal Kapoor, Shree is a women's ethnic wear brand with offline and online retail presence. It has about 60 stores, 3,000 multi-brand outlets, and 15 manufacturing units.
Mumbai-based Alpha Capital is an independently-owned investment management firm that was founded by Vishal Ootam and Vivek Anand PS. It typically invests in companies led by entrepreneurs with at least more than 10 years of operating experience with a career of at least 15-20 years ahead of them.
Over the last year, Alpha Capital has made investments in InCred Finance (NBFC), Food Link Services (banqueting and catering business), Credible (supply chain financing company) and Hero Electric (two-wheeler major).