India, July 19, 2023: Premium men’s fashion brand, Louis Stitch, secures INR 5 crore in Pre-Series A funding round, propelling its expansion plans into the retail space. The funding comes from Space World Group, a conglomerate into sectors like Telecom, Infrastructure, Chemical, Manufacturing, amongst others. With the allocated funds, the company aims to increase its product portfolio in the men’s wear segment whilst expanding its retail capabilities, pan India. Louis Stitch is in the process of launching its first-ever brand outlet, which will offer an extensive range of apparel, accessories and footwear made for aspirational Indian men. The brand intends to further its retail reach across major metropolitan cities during FY24.
Louis Stitch’s entry into apparel wear has received excellent customer response in the last quarter, allowing the brand to further its portfolio by launching premium casual footwear in the upcoming months. The funding will enable Louis Stitch to unlock a major milestone of achieving INR 100 crore Gross Turnover by the end of FY24.
Commenting on this partnership, Ankit Goel, Chairman of Space World Group, said, “Louis Stitch has been a trailblazer in men’s wear fashion, bringing premium quality products at affordable prices for Indian men. This funding signifies a powerful stride towards amplifying the brand’s commitment to finest quality, and manufacturing expertise, catering to an expansive clientele within India and beyond. With the launch of the brand’s first-ever outlet in tow, it is exciting to see what Louis Stitch has in store for in the years to come.”
On the future of the brand, Amol Goel, Founder & CEO, of Louis Stitch, said, “We are honoured to have Space World Group as our investor, a company deeply invested in technology and innovation similar to the ethos of Louis Stitch. With this round of funding, we are committed to deliver on our promise of curating a line that addresses all fashion needs of Indian men, under one brand whilst expanding our retail presence in India to provide a world class retail experience to the customers. This investment from Space World Group will take our plan for offline retail expansion to new heights and reach all prominent marketplaces across cities, with new products offerings.”
Louis Stitch has established a pan India presence through its website and leading e-commerce platforms like Amazon, Flipkart, and Myntra, becoming the go-to brand for premium men’s fashion when it comes to formal styling offering a wide range of options that combine style and comfort. The brand takes pride in using high-quality materials and innovative designs, earning a loyal customer base.
