Handbag maker Zouk raises $10M in Series B round led by Aavishkaar
Zouk plans to use the fresh fundraise for offline expansion, marketing and expanding its team.
D2C bags and luggage brand Zouk raised $10 million in its series B round, which was led by Aavishkaar Capital. Other investors included Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family.
Zouk plans to use the fresh capital to rapidly expand its network of exclusive brand outlets, and it is looking to hit the 75-store mark. It also plans to scale up its marketing and supply chain and invest in talent across verticals.
“This fundraise enables us to scale up our online and offline channels, with a strong consumer love and product market fit we have already established,” noted Pradeep Krishnakumar, Co-founder, Zouk, according to a press release.
This brings the company's total investment to $14.5 million. It is also Aavishkaar’s eighth investment from its $150 million AIF6 fund, which has invested in sectors such as financial inclusion, sustainable agriculture, climate, healthcare, and consumer.
“With plans to expand its product portfolio and exclusive brand outlets, we believe Zouk is well-positioned to capture a significant share of the rapidly growing bags and accessories market in India,” noted Divya Gupta, Investment Director, Aavishkaar Capital.
Zouk, which claims to serve over 7 lakh customers in the country, also recently marked its foray into the luggage segments with signature backpacks and trolley bags this year; it is bullish on the segment’s growth.
“Our new launches in luggage are seeing phenomenal love from women customers, who are finally happy to carry luggage that is made for them. Our offline stores are seeing good traction and more customers are looking to touch and feel Zouk products before buying. This capital will also enable us to expand our teams and build a large consumer brand from India for the world in the coming years,” said Zouk Co-Founder Disha Singh.
Edited by Affirunisa Kankudti