IPO-Bound Barcelona Raises INR 5 Crore From GetVantage The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year, and in stepping up its marketing efforts
By Teena Jose
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Barcelona, an emerging fashion and apparel brand for men has raised INR 5 crore equity-free capital from GetVantage, India's leading non-dilutive funding marketplace and growth platform. Barcelona has also roped in Sonu Sood as its brand ambassador to create a brand recall in towns beyond the metros. The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year, and in stepping up its marketing efforts.
"Our vision is to build India's largest retail network of multi-brand outlets through our men's fashion brand BARCELONA and we are quite close to attaining that target. Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds," said Jaimin Gupta, managing director, Barcelona.
Barcelona has over 130 exclusive brand outlets (EBOs) in over 70 cities in the country and also operates a B2B app to create a single Brand to retailer channel, where the stock is sold wholesale to apparel retailers. They have over 7000 garment retailers registered on the app and are aiming to on-board 1 lakh retailers in FY 24. Barcelona, which has filed for an IPO, has been growing at a CAGR of 7.6% and has closed FY 23 with a topline of INR 175 crore. The company is betting big on the burgeoning demand for men's fashion in India coming especially from the tier 2 and 3 markets on the back of increased awareness about fashion on various social media platforms, claimed by the company in a statement.
"Menswear is having a bit of a renaissance movement in India as the male consumer becomes more discerning in their taste for fashion. This evolving consumer behavior is helping new-age brands grow the overall market significantly. At GetVantage, we are excited to help businesses like Barcelona capitalize on this whopping $20 billion-dollar apparel opportunity. We're thrilled to support founders like Jaimin who can spot trends not just in fashion but in funding too on their way to a successful IPO," said Karun Arya, chief growth officer, GetVantage.
Founded in 2015 by Jaimin Gupta, Barcelona is a premium men's apparel brand that caters to all kinds of clothes ranging from shirts, t-shirts, jeans, trousers, shorts, and other fashion accessories.
