Barcelona, an emerging fashion and apparel brand for men has raised Rs 5 crore equity-free capital from GetVantage, India’s leading non-dilutive funding marketplace and growth platform.
The funds raised from GetVantage will be used to open around 50 outlets across the country in the new financial year, and in stepping up its marketing efforts. Barcelona has also roped in Sonu Sood as its brand ambassador to create a brand recall in towns beyond the metros.
Jaimin Gupta, Managing Director, Barcelona said, “Our vision is to build India’s largest retail network of multi brand outlets through our men’s Fashion brand BARCELONA and we are quite close to attaining that target. Businesses like us are capital intensive and we are constantly looking for equity-free and collateral-free working capital. Fortunately, revenue-based finance in India is gaining popularity and helping SMEs like us grow exponentially. We have seen a massive spurt in our business after raising funds from GetVantage. We got funds in just a few days without any hassle. Such alternate finance helps us to focus on our business instead of chasing funds.”
Barcelona, which has filed for an IPO, has been growing at a CAGR of 7.6% and has closed FY 23 with a topline of Rs. 175 crores. The company is betting big on the burgeoning demand for men’s fashion in India coming especially from the Tier 2 and 3 markets on the back of increased awareness about fashion on various social media platforms.
Karun Arya, Chief Growth Officer, GetVantage shares “Menswear is having a bit of a renaissance movement in India as the male consumer becomes more discerning in their taste for fashion. This evolving consumer behavior is helping new-age brands grow the overall market significantly. At GetVantage, we are excited to help businesses like Barcelona capitalize on this whopping $20 billion-dollar apparel opportunity. We’re thrilled to support founders like Jaimin who can spot trends not just in fashion but in funding too on their way to a successful IPO!”
Based in Ahmedabad, Barcelona is a premium men’s apparel brand that caters to all kinds of clothes ranging from shirts, t-shirts, jeans, trousers, shorts, and other fashion accessories. Founded in 2015 by Jaimin Gupta, it is one of the largest and fastest-growing apparel brands in the country and is leading the D2C space in apparel. Barcelona has over 130 Exclusive Brand Outlets (EBOs) in 70+ cities in the country and also operates a B2B app to create a single Brand to Retailer channel, where the stock is sold wholesale to Apparel retailers. They have over 7000 garment retailers registered on the app and are aiming to onboard 1 lakh retailers in FY 24.
Founded in 2019 by Bhavik Vasa and Amit Srivastava, GetVantage has amassed a sizable portfolio of over 500 new-age businesses, especially in D2C while diversifying into more sectors such as B2B SaaS, eCommerce, EV, and Cleantech this year. Mumbai-based GetVantage, which announced its investments in cleantech a few months back and its partnership with angel investment platform IPV is focused on scaling its funding marketplace 20x in 2023. It is bullish on its investments in the D2C space, given over 40% of its portfolio consists of D2C brands. GetVantage, which also has its own NBFC license under a separate entity also works with marquee NBFCs and Family Offices to facilitate growth capital investments for the D2C and new-economy brands that are looking to scale up.