Lingerie brand PrettySecrets has recently closed a series B round of funding led by Singapore fund RB Investments with participation by existing investors Orios VP and HNI Harish Shah.
PrettySecrets is an online lingerie brand that retails through PrettySecrets.com and is a segment leader on most online marketplaces like Myntra, Jabong, Flipkart, etc. PrettySecrets products are young, fun and sexy, yet functional & reasonably priced. The band has unique product offering and positioning and has found deep resonance in women in the 20-30 year age group. The brand sold over ½ million units of product over the past 12 months.
The size of this new round of funding is pegged at INR 40 Cr and the funding will be utilized to grow PrettySecrets dominance in the online lingerie retail market, to build the brand and diversify its distribution network. Considerable emphasis will also be put on building supply chain and a strong team to drive the foreseeable growth.
Earlier in March 2015, the company announced its plans to raise $10 Mn Series B round. The last round of $2 Mn Series A was raised in 2014 from Orios Venture Partners, Indian Angel Network and India Quotient.
The Indian lingerie & nightwear market is pegged at INR 18,000Cr+ at present and poised to grow to INR 30,000Cr over the next 4-5 years. PrettySecrets aims to be a dominant brand within this segment and believes it is moving in the right direction.
Karan Behal, founder & CEO is keen to start expanding the business as quickly as possible on the back of the series B. “We believe we have validated our product offering and consumer demand over the past couple of years and are convinced that we are on course to build India’s largest lingerie brand within the next 4-5 years”, mentions Karan.”