Berrylush, India’s fastest growing women’s online shopping store, announced today that it is eyeing a revenue growth of 80% as compared to last year during festive season in 2023. The company raised a successful round of INR 8 crores through Klub, India’s leading Revenue Based Financing platform. The funding comes at a crucial time providing a significant boost to Berrylush’s expansion plans and reinforcing its position in the highly competitive e-commerce market.
The investment from Klub highlights the confidence in Berrylush’s growth potential and the promising future of the online fashion industry. The funds will be utilised to drive strategic initiatives, strengthen the product offerings, and enhance customer experiences across platforms. Berrylush aims to utilise this investment to propel its presence across various market segments and broaden its reach across geographies.
“We are thrilled to announce the successful fundraising round with Klub,” said Alok Paul, Co-founder and COO at Berrylush. “This investment comes at a crucial juncture as we gear up for the festive season, where we anticipate a great surge of 80% as compared to 2022 in demand. The funds with zero equity dilution will enable us to enhance our infrastructure, expand our product range, and amplify our marketing efforts to provide our customers with an unmatched online shopping experience.”
“Berrylush has demonstrated impressive revenue growth of 5X in the last 2 years, and we are excited to support their journey,” said Anurakt Jain, Co-founder and CEO at Klub. “The company’s commitment to delivering high-quality products, coupled with their customer-centric approach, has positioned them as a preferred online fashion destination. We are confident that this investment will further accelerate their growth trajectory.”
The festive season is a crucial period for the fashion industry, with consumers actively seeking the latest trends and fashionable apparel for celebrations. As Klub and Berrylush embark on this collaborative journey, both organisations remain committed to fostering innovation, empowering startups, and revolutionising the financing landscape within the startup ecosystem. By leveraging the power of Revenue Based Financing, Berrylush aims to set new benchmarks for growth and inspire other ventures to explore alternative funding models.
About Berrylush
Berrylush is an online first direct to consumer brand of party and vacation wear, such as dresses, tops, jumpsuits, catering to women who desire affordable, high-quality, well-fitting, and incredibly bold and stylish western wear for both work and social occasions. Recently, the company has expanded into physical retail by opening its first brick-and-mortar store at the bustling Gaur City Mall in Greater Noida, followed by six other exclusive brand outlets located in Delhi, Surat, Indore, Rohtak, Hisar, and Hyderabad. Over the past two years, Berrylush has successfully shipped over 2 million products, generating approximately 110 crores of net revenue and experiencing an impressive year-over-year growth rate of over 80%. For additional details, please visit www.berrylush.com
About Klub
Klub, India’s leading Revenue Based Financing platform, provides flexible funding up to Rs. 30 crores to digital businesses and SMEs with recurring revenue. The company partners with leading NBFCs, HNIs, financial institutions, and its own SEBI registered fund to provide growth capital. Klub offers different capital structures for businesses across all stages (early, growth & late) for recurring marketing, inventory, and capex expenses. The company has deployed more than 1000 investment rounds enabling growth for 450+ brands across India. Klub raised $20 million in seed funding from Sequoia Capital India’s growth program Surge, US-based Alter Global, Japan-based GMO VenturePartners, and 9Unicorns in 2021. For more information, visit www.klubworks.com
