Bengaluru, Nov 14 (PTI) Fashion startup USPL has raiseda fresh 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, thecompany said.
The funds will be deployed for expansion in productportfolio and retailing capabilities.
"With this investment we will be able to accelerate ourgrowth in this high potential, fashion retail space," USPLFounder and CEO Anjana Reddy said in a statement here.
Founded in April 2012, USPL's portfolio of brands includeWROGN, a men's casual wear brand inspired by TeamIndia Captain Virat Kohli.
Imara is a contemporary women's ethnic fashion brand andMs 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 rightplaces 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, USPLhas recently opened company owned outlets in key metropolitan cities of the country.
"We are delighted to support USPL's future plans as theyseek to maintain leadership position in India and expandglobally," Partner at Accel Partners India, MahendranBalachandran said. PTI BDN RAROH.
This is unedited, unformatted feed from the Press Trust of India wire.