Goldsquare Sales India Private Limited, the owner of the Indian online fashion & lifestyle brand Fashionandyou.com, has raised $40m in funding.
The round was led by Norwest Venture Partners and Intel Capital, with participation from Sequoia Capital India and Nokia Growth Partners.
The company intends to use the funds for its growth initiatives (accelerate its member acquisition strategy and solidify the supply chain and distribution mechanism), including acquisitions, starting new business categories, as well as accelerating its growth in existing categories and geographies.
Launched in January, 2010 and led by co-founder and CEO Pearl Uppal, Fashionandyou.com is an invitation-only private sales club, which partners with high fashion and luxury brands across fashion apparel, designer wear, accessories, footwear, watches, jewellery, fragrances, kids, home décor, and holds private sales events for these brands on www.Fashionandyou.com.
The company employs more than 450 people spread across offices and distribution centers in Gurgaon, Mumbai and Bangalore.