Mumbai based fashion startup 20Dresses has secured funding of $1 million in a seed round led by a group of angel investors including Srinivas Aluri, MD at Morgan Stanley, Srinivas Modukury, ex-Lehman Brothers executive and BS Nagesh, founder of Trust for Retailers.
20Dresses is an exclusive members-only website. It focusses on women fashion products. The website asks you simple questions to know your fashion style, taste, size and latest trends. It sells private label products across apparel, shoes, bags and accessories. It delivers over 700 locations within the geographical boundary of India.
As reported by ET, the funds will be used for investments in manpower, upgrading technology and infrastructure.
Sumant Kasliwal, the founder of 20Dresses said, “We only sell our own brand which makes our products unique and allows us to maintain healthy margins while still keeping our products at extremely competitive price points.”