The Souled Store set to expand to Middle East, eyeing new market opportunities
Vedang Patel, Co-Founder & CEO, revealed that The Souled Store is now looking to take its business to the Middle East, with plans to expand its reach and offer its unique products to even more customers in the region.
Founded in 2013, omni-channel lifestyle startup The Souled Store is about to turn 10. The venture recently raised Rs 135 crore in a strategic round of funding led by Xponentia Capital and also saw participation from its investors Elevation Capital and RPSG Capital. The venture now hopes to open 200 stores — offline stores, of course — and reach a revenue target of Rs 1,500 crore, all in three years.
Speaking to CNBC-TV18’s Shruti Mishra, Vedang Patel, Co-Founder & CEO, revealed that The Souled Store is now looking to take its business to the Middle East, with plans to expand its reach and offer its unique products to even more customers in the region.
“Internationally, like you can see there's a Batman, Garfield, Superman, Marvel, Minions — all of this is relatable internationally. We also have a name that's, agnostic to the geography that you operate in — The Souled Store, truly follow your soul and come shop with us. So we feel like we can take this first to the Middle East which we are about to do,” he added.
Walmart-owned e-commerce player Myntra has launched a separate fashion experience portal for GenZ on its platform. With the rising demand for fashion blogging, more and more younger audiences are turning towards purchases made through influencer recommendations. This is the space that Myntra aim to capitalised going forward. The shopping platform has joined hands with 500 fashion influencers for the same.
LeadSquared is a new age SaaS platform, which turned unicorn last year after raising over $153 million. The firm has now doubled down on its growth in the US market and is building its presence in the Asia Pacific region as well. LeadSquared provides end-to-end sales, marketing, and on boarding automation solutions. Startup Street spoke to the company's co-founder Nilesh Patel to find out more about the company's growth plans and the road to profitability.
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First Published: May 2, 2023 7:21 PM IST
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