The clothing and fashion trademark D’chicha has announced that it has secured funds amounting 1.62 Cr INR on Tuesday, 25th January 2023. The investment of 1.62 Cr for the fashion brand was made by the revenue based financing solution providing company Velocity.
Utilisation of the Funds by the Company D’Chicha
The company said that the funds raised from the company Velocity will be utilised in recruiting new employees and also will be used in the field of marketing as the company wishes to generate the revenue of sum of 45 Cr INR in the coming Fiscal Year 2023-2024.
Regarding the fund raised from the Velocity the Co-Founder of Fashion brand D’chicha said that the company selected the company velocity as the investor since it’s a revenue based financing firm, in order to maintain the autonomy and control in their own hands. The Co-Founder also mentioned that they didn’t wanted to opt for venture capital Company till the firm don’t attain the run rate fixed by it.
About the company D’Chicha
The country based Direct-to-Consumer fashion brand D’Chicha was established in the year 2019 by two women entrepreneurs Vani Chugh Kabra and Rich Kapila. The headquarters of the company is based in Delhi, India.
The company manufactures products including the series of Lounge wears, active wears, inner wears and foot wears keeping the focus to provide comfort and trend to its target customers, the Gen Z teenagers.
The company has generated a revenue of 6.6 Cr in the financial year 2021-22 and wishes to close the year by generating revenue of 13 Cr INR.
The company has leveraged with the online shopping sites like the Amazon, Jabong, Firstcry, Zivame, Ajio, and Myntra to sell its products across the country. Whereas, it exports a range of its innerwear to the countries abroad like the United States, United Kingdom and Germany.
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