[Funding alert] Malaika Arora, Sussanne Khan, and Bipasha Basu curated The Label Life raises funds through Klub
Revenue-based financing marketplace Klub announced on Wednesday that it is facilitating investment of an undisclosed amount in Indian fashion and lifestyle ecommerce brand, The Label Life. The brand is curated and styled by Sussanne Khan, and actors Malaika Arora and Bipasha Basu. The brand features trend-focused clothing, home décor, and accessories.
Ishita Verma, Co-founder and COO of Klub, said:
"The dynamics around retail saw a huge disruption last year with ecommerce taking center stage for all shopping needs of consumers. Brands in the D2C space have seen robust and accelerated growth with consolidation of the digital market. We find tremendous potential in The Label Life to capitalise on this opportunity and firmly believe that Klub's revenue-based financing will help the brand scale new heights."
The Mumbai-based lifestyle brand was founded by Preeta Sukhtankar in 2013. Parent company The Label Corp. initially housed three brands -- The Home Label, The Closet Label, and The Trunk Label. In 2019, the brands merged under one umbrella as The Label Life.
In an official statement, Preeta said:
"We are thrilled with the support and faith we have received with this funding, which will allow us to increase our working capital and build up our inventory."
She further added that The Label Life has plans to expand its product offerings this year by launching beauty and skincare products.
"Given Klub's strength of community engagement and data-driven analytics, this endorsement by its patrons will set us up to achieve continued success as we scale our omni-channel strategy," Preeta added.
The Label Life targets women between ages 23 and 45 years, living in the top ten cities of India. The brand plans to use the funds to scale its operations, including marketing and partnerships.
Style Editor Malaika said, "By backing The Label Life, Klub has endorsed our strong philosophy of women empowerment -- as a team of women targeting working woman and as we build a thriving ecosystem of female vendors and partners."
Hybrid investment platform Klub was launched in 2020 to provide growth financing to consumer brands. So far, it has partnered with over 25 popular D2C brands in sectors like fashion, beauty, personal care, FMCG, social commerce, and consumer subscription. The company raised its pre-seed funding from Sequoia Capital's accelerator programme Surge, and multiple angel investors -- Naveen Tiwari of InMobi and Kunal Shah of Cred, among others. It aims to empower more than 350 brands by the end of this year.
Edited by Megha Reddy