“This funding will be used to drastically scale all the brands and start/acquire new brands in strategically identified white spaces. FS Life plans to hit over Rs 1,000 crore revenue run rate in the next 3-4 years,” the statement said.
FS Life is a group of homegrown brands operating in the apparel and lifestyle segment for the modern Indian woman.
Started in September 2016 by Ayushi Gudwani with FableStreet, a premium western wear brand, it now has evolved into a multi-brand organisation with Mikoto – sterling silver and semi-precious jewellery brand and Marigold – a modern Indian wear bra.
The company has scaled over ten folds in the past two years by revamping its product portfolio.
FS Life Founder Ayushi Gudwani said: “We plan on using this money to scale our supply chain technology; build a best-in-class team and enter offline retail. We have also used this opportunity to bring some amazing founder-angel investors whose guidance in building large-scale brands & internet businesses will be of great value to us.”
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“We have seen FS Life scale 10x despite Covid with unparalleled capital efficiency,” Fireside Ventures Partner Dipanjan Basu said.
“We have re-invested in them with the belief that they are set to change the landscape of the fashion industry in India with their insights-driven design innovation, efficient supply chain and best-in-class sizing for Indian women,” Basu added.
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