Angel Investments
PVR founder's family office invests Rs.5-Cr in men's luxury fashion brand Louis Stitch
The Family Office of Ajay Bijli, founder and managing director of cinema multiplex chain PVR, has picked up a minority stake in men's luxury footwear and fashion brand Louis Stitch. The funding - of INR 5 crore at a pre-money valuation of INR 100 crore - has been done via Bijli group's logistics arm, ATC Logistics, run by Ajay Bijli's son Aamer. The 4-year-old Louis Stitch, founded and led by its CEO Amol Goel, so far sells only online through its own web site and e-commerce platforms Myntra, Amazon and Nykaa. The investment by Bijli's Family Office will be infused to set up standalone physical stores.
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