Klub, a pioneer in revenue-based financing in India, announced facilitating an undisclosed amount of investment in Indian fashion and lifestyle e-commerce brand - The Label Life. The brand, curated and styled by Style Editors Malaika Arora, Sussanne Khan, and Bipasha Basu specialises in trend-focused, elevated clothing, home decor, and accessories while personally guiding the shopping experience for consumers.
The Mumbai-based lifestyle brand was founded by Preeta Sukhtankar in 2013. Parent company The Label Corp. initially housed three brands -- The Home Label, The Closet Label, and The Trunk Label. In 2019, the brands merged under one umbrella as The Label Life.
In an official statement, Preeta Sukhtankar, shared, "We are thrilled with the support and faith we have received with this funding which will allow us to increase our working capital and build up our inventory. Given Klub's strength of community engagement and deep data-driven analytics, this endorsement by its patrons will set us up to achieve continued success as we scale our omni-channel strategy. We have ambitious plans to expand our product offerings this year, with beauty and skincare at the top of the list based on high demand from The Label Life's frequent customers."
Malaika Arora, Style Editor, The Label Life said, "The partnership with Klub will infuse fresh life in the brand and we look forward to engaging more deeply with the Klub patron community. By backing The Label Life, Klub has also endorsed our strong philosophy of women empowerment - as a team of women targeting working women and as we build a thriving ecosystem of female vendors and partners."
The Label Life provides elevated fashion, accessories and home decor catering to urban women aged 23 to 45 years living in the top ten cities of the country. The company will use the funds from Klub to scale up its operations, including marketing and partnerships.
Ishita Verma, Co-founder & COO, Klub said, "The dynamics around retail saw a huge disruption last year with E-commerce taking centre stage for all shopping needs of consumers. Brands in the direct-to-consumer space have seen robust and accelerated growth with consolidation of the digital market. We find tremendous potential in The Label Life to capitalise on this opportunity and firmly believe that Klub's revenue-based-financing will help the brand scale new heights."
Hybrid investment platform Klub was launched in 2020 to provide growth financing to consumer brands. So far, it has partnered with over 25 popular D2C brands in sectors like fashion, beauty, personal care, FMCG, social commerce, and consumer subscription. The company raised its pre-seed funding from Sequoia Capital's accelerator programme Surge, and multiple angel investors -- Naveen Tiwari of InMobi and Kunal Shah of Cred, among others. It aims to empower more than 350 brands by the end of this year.