Ashish Kacholia Heads Rs 25 Crore Investment in Luxury Bag Brand EUM
• Rs 25 crore in Series A round led by marquee investor Ashish Kacholia.
• Kacholia had also invested in EUME’sRs 15 crore pre-Series A round (June 2024).
• Participation from Pradeep Rathod (Cello Group) and Prithviraj Kothari (Arvog Financial).
Lifestyle travel accessories and luggage brand EUME has raised Rs 25 crore in Series A funding from prominent investor Ashish Kacholia with the presence of existing players like Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. Surprisingly, Kacholia is funding the brand once again after he had invested in EUME'sRs 15 crore pre-Series A round in June.
The fresh funds mobilized will fuel EUME's subsequent growth cycle increasing its Indian retail chain, adding more employees, boosting marketing on a bigger scale, and augmenting working capital. As part of its aggressive offline retail expansion strategy, EUME will launch three new flagship stores within the next 45 days Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City) once again strengthening its offline retail presence in high-priority metropolis markets.
"EUME has shown extraordinary vision acuity along with flawless execution and creativity," stated Ashish Kacholia, lead investor. "My ongoing investment is a testament to my deep belief in EUME's ability to revolutionize the face of traveling luggage for the new-age consumer. Their design philosophy, quality, and innovation are world-class I view EUME as a long-term champion."
Forward, the company will more than double the size of its product offering across categories, led strongly by premiumisation. EUME is well placed to capitalize on the wave of growing prosperity among urban consumers in India, who are increasingly demanding high-end, design-led travel solutions.
We're thrilled to launch next-generation product innovation that's based on everyday convenience—not reinventing the wheel," states EUME Founder Naina Parekh. "To achieve this, we're also increasing our brand desirability with daring, aspirational marketing that makes EUME the preeminent luggage brand for generations".
Co-founder Pranay Parekh also stated, "Our multi-channel sales model is seeing good momentum. While growth on the internet continues to remain strong, our offline sales are also equally encouraging due to our value-priced premium price points. That's why expanding our offline footprint is one area where we are very focused. We've also emerged as the gifting partner of choice for several corporate clients, strengthening our presence in both B2C and B2B channels."
With greater focus on design, quality, and omnichannel presence, EUME seeks to become a household name in India's evolving travel and lifestyle space.
• Kacholia had also invested in EUME’sRs 15 crore pre-Series A round (June 2024).
• Participation from Pradeep Rathod (Cello Group) and Prithviraj Kothari (Arvog Financial).
Lifestyle travel accessories and luggage brand EUME has raised Rs 25 crore in Series A funding from prominent investor Ashish Kacholia with the presence of existing players like Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. Surprisingly, Kacholia is funding the brand once again after he had invested in EUME'sRs 15 crore pre-Series A round in June.
The fresh funds mobilized will fuel EUME's subsequent growth cycle increasing its Indian retail chain, adding more employees, boosting marketing on a bigger scale, and augmenting working capital. As part of its aggressive offline retail expansion strategy, EUME will launch three new flagship stores within the next 45 days Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City) once again strengthening its offline retail presence in high-priority metropolis markets.
"EUME has shown extraordinary vision acuity along with flawless execution and creativity," stated Ashish Kacholia, lead investor. "My ongoing investment is a testament to my deep belief in EUME's ability to revolutionize the face of traveling luggage for the new-age consumer. Their design philosophy, quality, and innovation are world-class I view EUME as a long-term champion."
Forward, the company will more than double the size of its product offering across categories, led strongly by premiumisation. EUME is well placed to capitalize on the wave of growing prosperity among urban consumers in India, who are increasingly demanding high-end, design-led travel solutions.
We're thrilled to launch next-generation product innovation that's based on everyday convenience—not reinventing the wheel," states EUME Founder Naina Parekh. "To achieve this, we're also increasing our brand desirability with daring, aspirational marketing that makes EUME the preeminent luggage brand for generations".
Co-founder Pranay Parekh also stated, "Our multi-channel sales model is seeing good momentum. While growth on the internet continues to remain strong, our offline sales are also equally encouraging due to our value-priced premium price points. That's why expanding our offline footprint is one area where we are very focused. We've also emerged as the gifting partner of choice for several corporate clients, strengthening our presence in both B2C and B2B channels."
With greater focus on design, quality, and omnichannel presence, EUME seeks to become a household name in India's evolving travel and lifestyle space.
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