03 January 2022, Mumbai:
Fashion and lifestyle retailer Bazar India has raised Rs 25 crore ($4 million) in Series A funding from the Planify Capital Platform.
As per Fashion Network report, the company will utilize these funds to expand its team, marketing and branding, and platform advancement. Atul Garg, CEO, informs, the company will open 20 more stores in states such as Uttar Pradesh, Bihar, Jharkhand, Orissa, and also in South India.
It is expected to reach a top line of Rs 1000 crore with a PAT of Rs 70 crore in the next 5 years.
Rajesh Singla, CEO, Planify Capital adds, Bazar India is poised to be one of the most prominent players in the retail segment in North East India. Early investors will have a great opportunity to make excellent returns on their investments.
Bazar India operates as the 'One Stop Shop' and currently has a Pan India presence with 55 stores in 51 cities.
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