Flipkart makes its third fashion investment in five months — bets on USPL that houses brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken
- Flipkart has made a strategic investment in USPL – the fashion house which has brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken.
- Founded in 2012 by Anjana Reddy, USPL has over 750 offline retail outlets in 100 cities across India.
- The latest investment comes after Flipkart had earlier bought stakes in Aditya Birla Fashion Retail and Arvind Fashions.
AdvertisementIndian e-commerce giant Flipkart has made a strategic investment in USPL – the fashion house which has brands like Virat Kohli's Wrogn and Kriti Sanon's Ms Taken. The series F funding round for USPL will see Flipkart help strengthen the online strategy of the company.
“This investment will help USPL and the Flipkart Group find deeper synergies as we continue on our commitment to grow an ecosystem of partnerships that deliver value for consumers and brands,” said Kalyan Krishnamurthy, CEO, Flipkart Group.
Founded in 2012 by Anjana Reddy, USPL has over 750 offline retail outlets in 100 cities across India. “Post pandemic recovery has been great for us and we are at 80% of pre-COVID sales. During the time when the world is moving towards omni-channel retailing, we can significantly strengthen our online strategy by working with Flipkart and Myntra, the two prominent players in the Indian online fashion space,” said Reddy in a statement.
Flipkart’s rapid investment strategy
Meanwhile, at Flipkart, the e-commerce giant has been strengthening its position in the fashion e-retail space by investing in major companies.
Here are the investments made by Flipkart recently
|Company||Investment by Flipkart|
|Aditya Birla Fashion Retail Limited||₹1,500 crore|
|Arvind Fashions||₹260 crore|
Flipkart had also recently acquired social gaming platform MechMocha to boost its gaming strategy and bring about new customer additions.
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