Indian Clothing League raises funds for expansion

Indian Clothing League has raised Rs 50 crores funding from mid-market

private equity fund ASK Pravi PE Opportunities Fund to carry out its manufacturing and retail expansion plans. This is the first time that the Chandigarh-based kids’ wear retailer has opted for funding. ASK Pravi will acquire almost 26 to 49 percent take in the venture. With the two popular brands 612 Ivy League and Baby League under its belt, the company already has a tie up with large format stores such as Shoppers Stop and Reliance Retail apart from leading e-commerce portals like Flipkart and Jabong.

612 Ivy League remains a casual wear brand for every day wear, whereas Baby League offers a mix of infant fashion and casuals with a total mix of knits, wovens and winter wear for both baby girls and boys. This is the second investment made by ASK Pravi in the last six months. In August last year, it invested Rs 60 crores in Hyderabad-based tertiary care hospital chain OMNI Hospitals. The nine-year-old, Rs 300 crores fund, which was launched in 2012, invests across four sectors — education, consumer products, healthcare and consumer services.