Flipkart group announces investment in USPL to heighten its fashion portfolio
The fashion house, which has brands like Virat Kohli’s Wrogn and Kriti Sanon’s Ms. Taken, announces a strategic announcement in USPL. Since 2015, USPL has been shaking up the Indian fashion industry with on-trend products, smart celebrity tie-ups, and an unerring finger on the pulse of India’s youth.
The Flipkart Group recently announced a strategic investment in USPL, a premium youth-focused fashion brand house, to enhance its fashion portfolio. Through this investment, the Flipkart Group will work attentively with the USPL team to deepen product offerings on its platforms.
Headquartered in Bangalore, USPL’s brand portfolio includes Wrogn, Imara and Ms.Taken.. USPL’s flagship brand - Wrogn, is one of the fastest growing men’s casual wear brands in India at scale and has been amongst the leading brands on Myntra over the last few years. Since 2015, USPL has been shaking up the Indian fashion industry with on-trend products, smart celebrity tie-ups, and an unerring finger on the pulse of India’s youth. It has quickly created a mark for itself, and today it is regarded as one of the key players in the category. Headquartered in Bangalore, USPL’s brand portfolio includes Wrogn, Imara and Ms.Taken.
“It is our constant endeavour to offer our customers a wide range of products that meet their sensibilities. USPL’s unique brands, backed by celebrity endorsements, have a strong appeal for the young fashion-driven Indian consumer. 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.
For USPL, it is a Series F funding round along with participation from existing investor Accel Partners, said a company statement. This investment will significantly step-up the online strategy of USPL by strengthening the existing long-standing engagement between USPL and Flipkart Group.
“The last few months have provided a great opportunity for us to consolidate our market leadership among homegrown brands catering to the youth and expand our market share. Post pandemic recovery has been great for us and we are at ~80 per cent 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 Anjana Reddy.
