Cricketer Zaheer Khan has invested in a Exclusively.in Inc’s newly launched label – Sher Singh. Financial details of the transaction were not disclosed. He will also be the brand ambassador of Sher Singh.
Sher Singh range of lifestyle products for men and women include T-shirts, trousers, polos, shirts, dresses, saris and tunics with a focus on markets like India, the US and the UK. Exclusively is targetting sales of about $100Mn from the brand in the next two years.
Exclusively.in is an online private sales site selling Indian fashion, jewellery and home decor products. It was launched in June’10 by Sunjay Guleria. The portal features high-end traditional Indian apparel as well as scarves, jewelry, handbags, crafts, paintings, photography and other home goods made by Indian designers.
The company had recently launched a wedding boutique on its website, offering wedding attire sales from Indian designers such as Manish Malhotra, Tarun Tahiliani, Manish Arora, Ritu Kumar and Payal Singhal. It had also set-up an Indian fashion pop-up store in Manhattan (NY), for a flash sale.
In May this year, it raised $16 Mn in a Series-B funding round led by Tiger Global Management, with participation from existing investors, Accel Partners India and Helion Venture Partners. Before that it raised $2.8 Mn from Accel Partners and Helion Venture Partners in November 2010.