Private Equity

VC Fund Investments

Handbags brand Lavie raises $9-M from First Bridge India Growth Fund

Economic Times  

Mumbai-based Bagzone Lifestyles Pvt Ltd, owner of fashion accessories brand Lavie, has raised USD 9 million (about INR 75 crore) from the First Bridge India Growth Fund. Lavie offers a variety of trendy ladies bags ranging from totes, satchels and hobos to slings bags, clutches and wallets. The investment will be used to establish a manufacturing facility capable of producing 200,000 bags per month and to open 300 exclusive brand outlets. Lavie plans to expand its offline presence in tier 1 and tier 2 cities, aiming to increase its sales from INR 500 crore in FY23 to INR 700-750 crore in FY24.