Fashion retail industry veteran and former MD and CEO of Arvind Fashions Shailesh Chaturvedi has launched Neopolis Brands Private Limited, backed by a Rs 90 crore (US $9.45 million) fund raise from a group of marquee investors, as the company looks to build and scale international fashion brands in India.
Neopolis Brands said the newly raised capital would be utilised for organisational development, working capital requirements, investments in brands, supply chain enhancement, retail expansion and strengthening digital capabilities.
The company plans to pursue an omnichannel-led growth strategy with a focus on localisation, merchandising, pricing and supply chain efficiencies to build large-scale fashion businesses in India.
The newly formed venture will focus on categories including womenswear, handbags and accessories, with an emphasis on introducing global brands that already hold strong positions in their domestic markets and possess significant growth potential in India.
The funding round saw participation from Ashish Kacholia, Lashit Sanghvi, Alchemy Capital, Brandix and Manipal Technologies.
Neopolis Brands stated that its strategy would centre on partnering with international labels capable of achieving scale in the Indian market through a combination of physical retail and digital commerce.
The company’s leadership team includes Chief Financial Officer Ankush Tibrewal, alongside several professionals who have previously worked with Chaturvedi during his earlier assignments in the fashion retail sector.
According to the company, India’s premium fashion and lifestyle market continues to benefit from rising disposable incomes, premiumisation trends and increasing fashion adoption among consumers. It added that categories such as handbags and accessories remain relatively under-organised, creating opportunities for branded players to expand.
Commenting on the company’s growth plans, Chaturvedi said Neopolis Brands intends to build a portfolio of large-scale fashion businesses, each targeting at least 100 stores across India while also maintaining a significant e-commerce presence aligned with evolving consumer preferences. He added that the company also plans to establish distribution networks across 40 to 50 cities and expressed satisfaction at receiving backing from strategic investors for the venture.
