GetVantage led Rs 5 Cr equity-free funding raised by men’s apparel brand Barcelona
Barcelona, a men’s fashion and apparel brand, has secured Rs 5 crore in equity-free funding from GetVantage, a growth platform and non-dilutive funding marketplace.
According to a press release from the company, the money will be used to expand its marketing efforts and open about 50 new locations across the nation in the upcoming fiscal year. Barcelona has also appointed Sonu Sood as its brand ambassador in an effort to increase brand recognition outside of major cities.
Barcelona is a high-end menswear brand that Jaimin Gupta founded in 2015. It offers a wide variety of clothing, including shirts, t-shirts, jeans, trousers, shorts, and other accessories.
In addition to running a B2B app to establish a single Brand to Retailer channel, where the stock is sold wholesale to apparel retailers, Barcelona, based in Ahmedabad, claims to have over 130 Exclusive Brand Outlets (EBOs) in more than 70 cities across the nation. Over 7,000 clothing retailers have already signed up for the app, and it aims to sign up 1 lakh retailers in FY24.
With a CAGR of 7.6%, Barcelona, which has filed for an IPO, closed FY 23 with Rs. 175 crores. The company is placing a significant wager on the growing demand for men’s fashion in India, which is expected to come primarily from the Tier 2 and Tier 3 markets as a result of increased fashion awareness on various social media platforms.
GetVantage, a Mumbai-based company that recently announced investments in cleantech and a partnership with angel investment platform IPV, is concentrating on growing its funding marketplace. The platform offers businesses in a wide range of industries, including B2B SaaS, e-commerce, D2C, edtech, cloud kitchens, and many more, a variety of non-dilutive working capital solutions for marketing, inventory, logistics, and other recurring CapEx.
