Exclusively.In, the first web destination to bring Indian-infused fashion, jewelry and home décor to a global audience, today announced a $2.8 million round of institutional and angel funding from Accel Partners India and Helion Venture Partners. Exclusively.In will use the funding for marketing and to expand its technology platform and consumer markets.
Online private sale sites have been growing in popularity over the past several years, characterized by successful companies such as Gilt Groupe and Rue La La in the U.S., and Vente Privee in Europe. Exclusively.In is one of the first to bring luxury ethnic fashion and lifestyle products to the U.S. via the members-only, private-sale format. The company has already experienced strong demand from a broad base of consumers, not just the Indian Diaspora, as "Indian-infused" fashion goes mainstream.
Inspired by popular films like Eat Pray Love and Slumdog Millionaire and style icons such as First Lady Michelle Obama and celebrities Uma Thurman, Katy Perry and Rihanna sporting Indian designers, Indian-infused style has emerged as a global trend. Condé Nast Traveler recently called India "the new Italy", with its fashion making waves worldwide. The styles, colors and patterns of the subcontinent have reached every major U.S. retailer – from Saks Fifth Avenue to Target – indicating a strong market around the world. Interestingly, almost half of Exclusively.In's customers are not of Indian origin.
"We're bringing the highest level of Indian design and workmanship to the world, which was previously only accessible to a select few who could visit India multiple times a year," states Exclusively.In co-founder and CEO Sunjay Guleria. "We've created our own 'passage to India', connecting the global fashion consumer with Indian fashion in a simple, fun and intuitive online shopping experience."
The site offers new sales every day featuring unique items such as inspired jewelry and intricately embroidered contemporary clothing for men, women and children, bejeweled accessories like handbags and clutches, in addition to ethnic selections – like saris and luxury Indian bridal wear. Travel deals at top Indian luxury hotels, exquisite home décor pieces and limited edition art collections, photography and collectibles can also be found on Exclusively.In.
The site's subscriber base is growing at a rapid pace, and over 65 percent of its members make repeat purchases. Currently Exclusively.In ships orders directly from Delhi to the doorsteps of customers in the United States in as little as three days and in under a week on average, and has plans to expand to Canada, the U.K. and India in early 2011.
Although Exclusively.In launched less than five months ago, the company has quickly become the industry standard for Indian fashion, jewelry, and lifestyle products, featuring limited edition art and home decor. Additionally, it has been designated as the official online retailer for India's premiere fashion week, the Wills Lifestyle India Fashion Week. Renowned designers such as Tarun Tahiliani, Rohit Bal, Manish Arora, Ashish N Soni, Raakesh Agarvwal, Gaurav Gupta and Payal Singhal feature their work on the site.
"I think it's good that more and more people get a chance to own some of the best things from India because of Exclusively.In," famed designer Manish Arora added. "Whether it's my collection or more traditional clothing or unique pieces for the home, they've given the world an all-access shopping pass to India."
As part of the funding round, Ashish Gupta of Helion Venture Partners and Prashanth Prakash of Accel Partners India will be joining Exclusively.In's board of directo women's coats online rs.
"Exclusively.In has the potential to disrupt a massive market of global ethnic retail and in them we see some of the early traits of success that mirror our other global social commerce investments," states Prashanth Prakash, Partner at Accel India.
"We're very excited to be investing in a company that has created the right recipe for success," Ashish Gupta of Helion Venture Partners said. "A strong team has intelligently identified a market niche, sensed a global trend where growing demand had virtually no convenient supply solution, and applied it to a proven business model."
About Exclusively.In
Exclusively.In offers the best in Indian fashion, jewelry, home decor and travel. From the frontlines of the most inspired styles coming from the Indian subcontinent, they discover and deliver the latest designs and truly unique experiences. Launched in June 2010, Exclusively.In has featured over 200 different vendors in the first four months of sales.
To learn more, visit us at http://www.exclusively.in or join over 55,000 Facebook fans at facebook.com/exclusively.in. To start enjoying the Exclusively.In experience right away, go to bit.ly/instantlyin to register instantly and use the code "IWANTIN" to receive 10 percent off your first order.
About Accel
Founded in 1983, Accel Partners has a long history of excellence and innovation in venture capital, and is dedicated to partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, California, London, UK, New Delhi and Bangalore, India as well as in China via the IDG- Accel Partnership.
With over $6 billion under management, Accel has helped entrepreneurs build over 300 successful companies, many of which have defined their categories, including Actuate, Acopia, AdMob, Agile Software, Alfresco, AMCC, Arrowpoint, BBN, Brightcove, ComScore, Etsy, Facebook, Foundry Networks, GlamMedia, Imperva, Infinera, Interwoven, JBoss, Kayak, Macromedia, Maven Networks, metroPCS, Polycom/PictureTel, Portal Software, QlikTech, Rapt, Real Networks, Redback Networks, Riverbed, UUNet, Veritas, Walmart.com, Webroot, Wily Technology, XenSource and Zimbra. Accel India's portfolio includes Chakpak, DoveTail, Enstage, Flipkart, HealthcareMagic, HolidayIQ, Inbiopro, Kaati Zone, Kirusa, Mitra Biotech, MuSigma, Myntra, Perfint, Sconce and Virident. For more information, please visit the Accel Partners web site at http://www.accel.com or find us on Facebook at http://www.facebook.com/accel.
About Helion Venture Partners:
Helion is a multi-stage, India-focused venture fund with $350 million under management. The fund invests in businesses that are either technology-powered or catering to the Indian consumer services space. The focus sectors of investment include - outsourcing, internet, mobile, technology products, retail services, education and financial services. The fund's investors are well-respected global institutions including top tier university endowment funds, foundations and family offices. The fund and its portfolio companies are advised by an experienced and industry renowned team of professionals based in India which include Sanjeev Aggarwal, Ashish Gupta, Kanwaljit Singh and Rahul Chandra. For more information, please visit http://www.helionvc.com.
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