India: Alpha Capital invests $11.5m in women ethnic wear brand Shree

Visual from SHR Lifestyle website

SHR Lifestyles Private Limited, which owns women ethnic wear brand Shree, has raised Rs 80 crore ($11.5 million) from private investment firm Alpha Capital.

Launched in 2009 by Sandeep Kapoor and Sheetal Kapoor, Shree will use the financing proceeds to further deepen its reach in existing markets and open up new geographies, the company said in a statement.

“We will be deploying the funds to expand our distribution network by setting up new retail stores, scale up our business geographically, add senior talent and increase our customer base,” SHR Lifestyles Chairman and MD Sandeep Kapoor said. This partnership will further help the brand materialise its vision of growing to over 300 company stores in the near future, he added.

Shree currently boasts of more than 60 stores, 3000 plus multi-brand outlets and 15 plus dedicated manufacturing units. Going forward, it plans to expand presence in the states of Kerala, Tamil Nadu, Maharashtra, Gujarat, Punjab, Himachal Pradesh, Haryana and Madhya Pradesh, among others.

Last month, Alpha also invested more money in one of its portfolio companies, InCred, a non-banking finance company. The firm was one of the early investors in InCred. Alpha’s other investments include Just buy Live, supply chain financing startup Credable, and two-wheeler company Hero Electric.

Alpha Capital was founded by Vishal Ootam and Vivek Anand.

Also Read:

Gaja Capital leads $10m funding in Indian lifestyle brand Chumbak

DSG Consumer Partners, Japan’s AET fund invest in India’s Planet Superheroes

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.