LuxeYard India and REGARD Venture Solutions have entered into an agreement for the first round of funding to fuel the company through launching operations in one of the world's fastest growing eCommerce markets.
The largely untapped eCommerce marketplace will dramatically increase LuxeYard's global footprint further propelling the fast-growing start-up toward increased revenue and expansion goals. The revenue strategy leverages inherent reciprocity in access to U.S. and Indian merchandise and distribution channels. Additionally, curated luxury living and style products from India will be made available in LuxeYard's global distribution network and India will have access to U.S. products.
"We have reached a critical milestone for LuxeYard's successful entry into India," said Sashi Chimala. "Not only will this expansion provide global access to a luxury lifestyle Indians want, it will also satisfy an international demand for curated Indian luxury products. Our agreement with REGARD will give us the momentum we need to fill this highly profitable vacuum in India's eCommerce marketplace."
"There is tremendous value in what LuxeYard is accomplishing on the international stage," said Manish Paranjape of REGARD Venture Solutions. "Non-travel eCommerce in India is a fast-growing market with incredible potential and we believe LuxeYard India is in a desirable position to leverage this potential."
LuxeYard's agreement with REGARD followed a recent licensing deal with Chimala who's extensive experience as a highly regarded entrepreneur in India and track record for creating consumer brands with innovative marketing programs in successful technology start-ups, positioned him as an effective candidate for bringing LuxeYard into India efficiently and prepare the stage for a successful expansion.