Mumbai-based Women-focused online styling and personalisation startup 20Dresses has raised $1 million in funding from a clutch of angel investors including Srinivas Aluri, MD at Morgan Stanley, ex-Lehman Brothers executive Srinivas Modukury and BS Nagesh, founder of Trust for Retailers.
20Dresses is an exclusive members-only website for women where you get your personal stylists setting up your personal showroom filled with trendiest fashion products. These products are handpicked and purchased keeping specifically in mind your fashion profile, taste, size and latest trends.
20Dresses was founded in 2012 by Sumant Kasliwal, a venture capital & PE investor turned entrepreneur who earlier worked with companies like Arthur Andersen, ICICI Venture, STAR India and Microsoft.
"We only sell our own brand which makes our products unique and allows us to maintain healthy margins while still keeping our products at extremely competitive price points," said Sumant Kasliwal, founder and CEO.
20Dresses claims to be growing at over 100% every quarter. Kasliwal says the firm has crossed monthly run rate of `1 crore in sales and is targeting to achieve sales of `50 crore this year. The startup is competing with other player such as Voonik and other private label ecommerce companies.
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