ALSO READShoppers Stop exits duty-free airport retail biz Amazon to invest Rs 179.25 cr in Shoppers Stop Shoppers Stop advances after executing agreement with Amazon India Shoppers Stop sells its 40% stake in Nuance Group (India) Amazon affiliate to buy $27.6 million stake in retailer Shoppers Stop
Fashion startup USPL has raised afresh round of investment of over Rs 100 crores from its existing investor Accel Partners. With this round of funding, the valuation of Universal Sportsbiz Private Limited has crossed USD 100 million, the company said. The funds will be deployed for expansion in product portfolio and retailing capabilities. "With this investment we will be able to accelerate our growth in this high potential, fashion retail space," USPL Founder and CEO Anjana Reddy said in a statement here. Founded in April 2012, USPL's portfolio of brands include WROGN, a men's casual wear brand inspired by Team IndiaCaptain Virat Kohli. Imara is a contemporary women's ethnic fashion brand and Ms Taken, a signature women's western wearline. Kohli, who is also curator of USPL's brand WROGN, said, "I am keenly looking forward to taking WROGN to all the right places in India and beyond." USPL brands are presently available in Shoppers Stop and online fashion portals Myntra, Jabong and Flipkart, besides Exclusive Brand Stores. Pursuing its omni-channel distribution strategy, USPL hasrecently opened company owned outlets in key metropolitan cities of the country. "We are delighted to support USPL's future plans as they seek to maintain leadership position in India and expand globally," Partner at Accel Partners India, Mahendran Balachandran said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)