Neopolis Brands plans to partner with global fashion labels and expand across handbags, accessories and womenswear as rising premiumisation drives demand in India’s organised retail market
Former Arvind Fashions chief executive Shailesh Chaturvedi has raised ₹90 crore for his new venture Neopolis Brands, as he looks to build and scale global fashion and lifestyle labels in India amid rising demand for premium accessories and womenswear.
The funding round has drawn backing from investors including Ashish Kacholia and Lashit Sanghvi, along with strategic partners such as Brandix and Manipal Technologies.
Neopolis Brands plans to partner with international fashion and lifestyle brands that are market leaders in their home countries and expand them in India through a localisation-led and omnichannel strategy. The company will initially focus on categories such as handbags, accessories and womenswear, segments that continue to see increasing demand from urban consumers.
The move comes as India’s premium fashion market witnesses accelerated growth driven by rising disposable incomes, premiumisation trends and increasing adoption of branded products beyond metro cities. Industry estimates peg the handbags and accessories market at nearly Rs 20,000 crore, while the organised segment remains relatively small at around Rs 7,000 crore.
Chaturvedi said the company aims to build multiple large-scale brands with a strong online presence alongside extensive offline distribution.
“Scaling is important for profitability, and I am enthused about building few large brands each with min 100 stores in India, each with a large-scale ecommerce share in tune with current consumer trends, alongside distribution in min 40 to 50 cities. Also, I am truly happy to see very strategic investors coming on Board to support this new journey of Neopolis,” he said.
The company said the capital will be used for organisational expansion, working capital requirements, investments in brands, supply chain strengthening, store rollout and digital capabilities.
Commenting on the investment, Ashish Kacholia of Lucky Investments Managers said, “Women fashion and accessories continue to present a large, untapped opportunity in India, with strong consumer demand but limited organized scale. Neopolis’ focussed approach and industry expertise positions it strongly for building large scale category leading brands.”
Lashit Sanghvi of Alchemy Capital added, “We closely observed how a large public listed company was turned around rapidly under Shailesh’s leadership and his track record of more than 3 decades in scaling up global brands profitably gives us strong confidence in potential of Neopolis brands.”
