Luxury Couture gets a funding boost

Apparel and accessories brand, Luxury Couture has received 7.5 million dollars (Rs 49.4 crores) in funding for 10 percent equity in the company. East Coast-based W&B Venture Capital Inc has acquired 10 percent equity in the company.

The New Delhi-based Luxury Couture retails clothes and footwear in the US and India. The company plans to use the fresh funding to enhance its reach through marketing initiatives and technological upgradation as well as operational and logistic expansion. The plan is to lead the online market with 25-30 percent market share over the next two years.

Promoted by Piyush Saxena and Raghvender Kumar, Directors, the company has been witnessing positive growth. It reported 20 percent rise in its revenues in the last financial year and it is looking forward to reporting a 50 percent growth in turnover this fiscal.