With the fundraising from PVR founder Ajay Bijli’s group company, Louis Stitch aims to expand its offline presence through exclusive brand outlets (EBOs) across key metros in the country
Mumbai: Men’s luxury fashion brand, Louis Stitch, announced raising a pre-series A round of Rs 5 crore at a pre-money valuation of Rs 100 crore, from Bijli Group, the family office of Ajay Bijli, founder of PVR Cinemas. The funding comes via Bijli Group’s Logistics arm, ATC Logistics, being run by his son, Aamer Bijli.
With the fundraising, Louis Stitch aims to expand its offline presence through exclusive brand outlets (EBOs) across key metros in the country. It will also utilise the funds to expand its product lines, strengthen production and distribution capacity. The company is eyeing a top line of Rs 100 crore in the financial year 2023-2024.
“Louis Stitch has shown remarkable growth since its inception in the men’s luxury fashion market. With the company opening new stores and product lines, they will be a brand to watch out for in the coming years,” Aamer Bijli, managing director, Bijli Group said about the investment.
On the fundraiser, Amol Goel, founder and chief executive officer, Louis Stitch, said, “We are excited to have an industry stalwart onboard on our journey. With over a million customers served so far now we plan to launch luxury apparel series of polos, shirts, and trousers. The funding will be a huge boost for us to expand our production and distribution capacity, and reach all the prominent markets with our new products”.
Louis Stitch is a luxury men’s fashion brand known for shoes and leather accessories. Founded in 2019, the brand sources material from Argentina, Russia, Egypt, and Germany. It has an India-wide presence through its website and leading e-commerce platforms like Myntra, Amazon, Flipkart, and Nykaa. With the new product offerings, Louis Stitch is set to compete in an industry estimated to be Rs 3.3 trillion (approx) by 2027.
