Impulse lifestyle retail brand Uni Seoul raises Rs 35 Cr Series A funding
Uni Seoul, a Pune-based impulse lifestyle retail company, has raised Rs 35 crore, or roughly $3.7 million, in its Series a funding round headed by Sauce and Riverwalk Holdings. A group of current angel investors and Panthera Peak Ventures also participated in the round.
Gaurav Karmani and Mohit Khurana founded Uni Seoul, a retailer in the impulse lifestyle market that sells items in a variety of categories, including stationery, bags, travel accessories, home and living, plush toys, beauty and personal care, and gifts.
The company intends to use the additional funds to launch on quick commerce platforms, build its private-label portfolio, improve supply chain capabilities, and increase its offline retail footprint.
Over the next five years, it hopes to reach 500 retail touchpoints and expand from 15 stores to over 50 outlets.
At the moment, Uni Seoul has fifteen locations in Bengaluru, Mumbai, Pune, Hyderabad, Ahmedabad, Chennai, Kochi, and Nashik. More than 1,000 SKUs from the brand range in price from Rs 99 to Rs 2,999.
The company estimates that the gifting market in India was worth about $75 billion in 2024, and the fast growth of quick commerce is opening up new markets for impulsive gifts and lifestyle items.
In response to the investment, co-founder Mohit Khurana stated that the company intends to develop a category-defining impulse lifestyle retail brand in India by growing its retail presence and venturing into quick commerce.
