Binny Bansal, Flipkart co-founder, has invested a whopping amount of $1 Million in India’s luxury brand store House of Masaba.
With this investment, Binny Bansal became a lead investor to the fashion brand line. This is the first investment for the company. Other participants include Apurva Salarpuria, Apoora Patni, and Purple Style Labs.
The brand team plans to use the funds to shore up its distribution network and base. At the fundraise, Masaba, House of Masaba founder states,
“After being in the business of fashion for 10 years, it was the right time to bring onboard institutional investors. I believe that the brand has immense scalability, both domestically and internationally. The idea was to partner with entrepreneurs who have successfully scaled businesses in the country.”
Celebrity brand fashion designer Masaba Gupta founds House of Masaba. The store is famous for resort wear and destination wedding wear. Currently, Masaba holds 11 exclusive brand outlets in India and Dubai, the UK, and the US as a retail footprint.
Titan, Fiama Di Wills, Amrapali, Chandon, Puma, Oppo, etc. many leading brands have collaborated with the House of Masaba.
On the other hand, Binny Bansal in a statement
“Masaba has been able to create a great brand backed by her unique designs. She is one of the youngest designers to do so, and I believe she is just getting started on building a great business.”
Masaba Gupta was listed in Forbes India’s 30 under 30 list, Fortune’s 40 under 40, the Outlook Business power list- Women of Worth and a few more to name.
House of Masaba CEO, Sagar Chhabra adds,
“This round would enable us to continue this growth momentum, quadruple our production capacity, strengthen our team, and expand our retail footprint across the country.”
The bootstrapped label has grown immensly from 3 to 11 fashion houses making Bollywood celebrities go gaga over the unique designs. Stars like Kareena Kapoor Khan, Sonam Kapoor, Rhea Kapoor, etc. are the noted clients to Masaba fashion house.
House of Masaba is going stronger in the fashion industry and expecting to raise more substantially by strengthening its retail foothold both international and maiden business.