Excl: Lifestyle e-com venture The Label Corp raises Series A from Kalaari Capital
Mumbai-based The Label Corp Pvt Ltd, a startup owning and operating several lifestyle e-commerce brands, has closed its series A round from Bangalore-based VC fund Kalaari Capital (earlier known as Indo-US Venture Partners), sources close to the development stated. Though the exact amount is not known, it is said to be in the range of $1-2 million and will be invested in two tranches.
The Label Corp was launched by Preeta Sukhtankar in November 2012. Sukhtankar is a Mumbai-based marketing professional who has worked for brands like Elle, MTV and Percept. Earlier this year, she launched her first online store called The Home Label which was touted as Suzanne Roshan's online venture. The next store, called The Closet Label, was launched a month later. It was endorsed by Malaika Arora Khan. Sukhtankar had earlier said these celebrities are not endorsing the brand. Instead, they are stakeholders in the product. The Home Label, as the name suggests, deals in home and lifestyle categories wherein furnishing products for dining, office, kitchen and kids' rooms, etc are on offer. The Closet Label, on the other hand, is a fashion brand dealing in women's clothes and accessories and exclusively focusing on private label offerings.
Sukhtankar had also said the company will be launching a third women-focused online store in November-December without revealing what category it would cater to.
Kalaari Capital is a $160 million technology-focused VC fund which has a slew of other e-commerce startups in its portfolio including Zivame, UrbanLadder and Hushbabies. It was formed last year, when Indo-US Venture Partners raised a fresh fund and rebranded as Kalaari Capital.
(Edited by Joby Puthuparampil Johnson)