The Souled Store plans to raise Rs 75-100 crore; aims to ramp up its future expansion
By Retail4Growth Team | Retail4Growth Team | January 14, 2021
With this move, the company is looking forward to strengthen its supply chain, introduce fresh marketing strategies and also ramp up its omni-channel presence.
A RP-Sanjiv Goenka Group- backed start-up; The Souled Store is looking to raise Rs. 75 -100 crore funds to speed up its future expansion plans in India. The company is looking forward to fortify its supply chain, introduce fresh marketing strategies and also escalate its omni-channel presence through the allocation of funds.
In an interview with BusinessLine, Vedang Patel, Co-Founder, The Souled Store, mentioned, “We are looking at a new round of fundraising, say to the tune of Rs. 75-100 crore. Scale-up in operations will happen. A prime focus will also be on marketing. This apart, we need to rework the supply chains and improve warehousing to further speed up deliveries. Our target is Rs 1000 crore over the next four years. The company will re-focus on offline store expansion. There are some deals with malls that we discussed but did not sign because of the lockdown and the pandemic. We will revisit them now“
The company that was introduced back in 2003 has a strong online influence and holds the India license for a variety of international franchises. Through this move, the company will look forward to seamlessly shift the same experience to its offline consumers.