Apoorv Anupam
12 June 2018, India:
Private equity firm Paragon Partners has invested ₹ 75 crore in women’s fashion brand eShakti. eShakti will use the fresh capital for growth and expanding its global footprint.
“eShakti is one of the early movers in addressing an under-served need for make-to-order apparel for women in the western markets. With its disruptive operating model combined with superior quality of design, fabrics and speed of execution, eShakti has been able to build a strong and growing community of loyal customers in the United States,” said Siddharth Parekh, Co-Founder and Senior Partner, Paragon Partners.
“We are thrilled with our partnership with eShakti. Given its lean operating model and strong technology back-end, eShakti can ramp-up operations and scale quickly. Despite customized offerings, eShakti’s return rates are relatively low, further validating the robustness of the design and production processes. We look forward to working with the eShakti team,” said Sumeet Nindrajog, Co-Founder and Senior Partner, Paragon Partners.
“The investment from Paragon Partners is primarily needed for growth as we are building a multinational consumer brand with a global footprint. We are excited by the endorsement and opportunity that Paragon’s investment represents and we look forward to building on our history of strong growth based on a robust value proposition that gives us both scalability and a competitive advantage,” said B G Krishnan, Founder & CEO, eShakti.
eShakti was founded by B G Krishnan in 2001. It is an international fashion e-commerce company making custom clothing.
Paragon Partners was started by Siddharth Parekh and Sumeet Nindrajog in 2015. It is a private equity firm. It provides growth capital to mid-market companies in India.
(Image – Wikimedia Commons)