Lifestyle startup, The Label Life, aimed at women, between the ages of 23 and 45, living an urban lifestyle, received a $3.1 million investment. The investment came from Kalpavriksh, a private equity fund created by The Centrum Group, a financial services company. The fund usually invests in fields such as fintech, healthcare and fast-moving consumer goods, and looks for companies that have the capacity for advancements.
“Consumer centric businesses are at an inflection point in India and The Label life is well positioned to capitalize on this opportunity,” Kalpavriksh Chief Investment Officer, Giri Krishnaswamy, told Livemint. “The brand has demonstrated growth through innovation and strong customer engagement simultaneously with good unitary economics.” The Label Life, backed by venture capital firm Kalaari Capital, partners with Bollywood celebrities to assist in styling, including Sussanne Khan, Malaika Arora and Bipasha Basu. With the stylists and designers The Label Life has partnered with, the company provides customers with products in fashion, accessories and home-decor categories. Designers who have partnered with the startup include Falguni Shane Peacock and Payal Singhal.
Following an investment in a psychotherapy startup, H.E.A.L., the investment in The Label Life will be the second from the private equity fund. “2018 will see new categories, new verticals, and new collaborations, which we know our discerning and growing customer base will love,” Preeta Sukhtankar, founder and chief executive officer of The Label Life said. “Kalpavriksh’s team has a deep understanding of supply chain, operations and customer engagement, so we have a lot to benefit from this partnership. With Kalpavriksh’s investment, the brand’s immediate plans are to aggressively expand the label, double the SKUs, explore an omni-channel strategy and focus on collaborations and partnerships.”
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