Uppercase to launch premium line backed by latest investor Jasprit Bumrah
Bumrah's new product line is set to launch amid Uppercase's rapid offline expansion, the company is targeting 50 stores by the end of current financial year.
Sustainable luggage-maker Uppercase on Monday said it will launch a new premium product line from its new investor and cricketer Jasprit Bumrah, by this festive season.
The announcement comes at a time when Bumrah has joined Uppercase's captable after his early support as its brand ambassador. The company did not disclose the size of Bumrah's equity investment.
As part of their collaboration, Bumrah is expected to work with the Uppercase team to create a distinctive product line, including luggage, backpacks, and gym bags marketed to sportspersons.
The product line, expected to hit shelves just before this year's festive season, will also share a portion of its profits with Bumrah. While the name for the new line hasn't been finalised yet, its pricing will be on the higher end of Uppercase's range, Founder & MD Sudip Ghose told YourStory.
Founded in 2021, Accel-backed Uppercase offers sustainable backpacks, duffle bags and luggage across multiple channels. It competes with new-age brands like Mokobara, EUME, Nasher Miles along with legacy players like American Tourister and Safari.
The company has been steadily ramping up its offline presence from exclusive brand outlets to general trade channels. It is also marking its entry into modern retail stores. The brand has about 17 stores across the country, especially in smaller towns, and it plans to hit 50 store count by the end of this financial year.
"While we have stores in metros like Mumbai, Delhi, Kolkata, and Bengaluru, we also have stores in Sonipat, Wayanad, Prayagraj, and other Tier II cities and we see a lot of action there too. That’s why we’ve kept the prices attractive. Since this is a designer brand, but we wanted to keep it affordable so we can reach the maximum number of people. The JB line however will come at a premium since it will be a custom design & exclusive line" said Ghose.
Mumbai-based Uppercase is targeting to reach breakeven by FY28 and plans to clock Rs 200+ crore in ARR by the end of this year. Last year, it raised $9 million in a Series B round led by Accel, valuing the company at $ 60 million. Prior to that, it had raised $8.5 million across seed and per-series A round from Emam Holdings and Sixth Sense Ventures.