Mumbai-based premium D2C lifestyle brand Eské Paris has raised a total of INR 2.5 crores in a seed funding round. The fundraiser will expand the brand’s product range and accelerate the international launch.
The key Investors in the current round include Fluid Ventures, Divij Bajaj, and Ankit Gera. The brand already saw participation from Varun Alagh (Founder, Mamaearth) and Arjun Vaidya (Founder, Dr. Vaidya) in a pre-seed round.
Shivam Khanna, Founder of Eské Paris, said, “The future belongs to brands that have complete control over their supply chain, and we are here to spearhead this revolution in our category. Our C2M model will be the world’s leanest and most efficient distribution model, and we plan to be the first in our category to achieve this.”
“Our vision for Eské is extremely ambitious. Digital-first brands in our space have scaled to over $150million in revenue within five years. I believe we have the depth, hunger, and commitment to improve this and build one of the largest global D2C brands of the decade,” added Shivam Khanna.
The majority of the capital from the current fundraised will be utilized to build a global lifestyle brand with a community and content-centric approach.
The brand has already been consistently profitable this year, with EBITA margins over 15 percent, and is looking to double its scale in the next couple of months.
“Furthermore, the pandemic has brought about some structural shifts in consumer choices and shopping behavior in India. With rising disposable incomes, the modern millennials are making a clear shift towards premium products, a trend that is set to accelerate in the coming decade,” said Khanna.
With most sales coming from their website and a significant online presence across marketplaces, the brand has successfully built a loyal community of customers. Gaining real-time insights, the brand has seen customer retention of over 30 percent in a span of just nine months.
Amit Singal, General Partner, Fluid Ventures, said, “The Asia Pacific region is currently the world’s largest market for leather and lifestyle products, with the highest revenue in this category. Eské stands out as an emerging premium lifestyle Indian brand and is on its way to becoming a category leader.”
