Online lingerie platform Pretty Secrets to raise Rs 100 crores

Mumbai-based MTC Ecom that owns popular online lingerie platform Prettysecrets.com is close to sealing a Series B funding round of about Rs 90-100 crores next month. Earlier, the company had raised Series A of Rs 12 crores from Rehan Yar Khan’s Orios Venture Partners along with Indian Angel Network (IAN) and investor India Quotient.

The company aims to utilise the latest funding boost to strengthen its supply chain, launch mobile application, expand into new product categories, and also to enter the international market. The company has partnered with Souk.com in UAE and now aims to spread presence in Saudi Arabia, Egypt and seven more countries in the Middle East and a few in South East Asia in the next four to six months.

Also on the company’s agenda is to increase its sales by 15-20 times by this year-end. PrettySecrets started in 2012 as a women's sleepwear brand by retailing through departmental stores such as Shoppers Stop and Pantaloons, later jumped onto the ecommerce wagon sighting huge opportunity.

The company also retails its products consisting of almost 1,100 different styles on 12 other e-commerce platforms, including Zivame, and enjoys 15 per cent market share in the online lingerie market.