Zouk, a local vegan lifestyle brand, announced today that it has raised Rs 11.75 crore ($1.5 million) in a pre-series A round led by Stellaris Venture Partners, along with participation by the founders of Wow Skin Science. Longtime investor Titan Capital also participated in the round.
The infusion of funds will help Zouk expand its presence in India and new global markets, strengthen its supply chain and distribution channels, and expand its product line. Zouk raised capital earlier this year from Titan Capital, founders of Beardo and Mamaearth.
Zouk’s portfolio includes laptop bags, totes, slings and chain wallets to name a few, made from 100 percent vegan leather sourced and manufactured in India. Zouk’s mission is to build an iconic global consumer brand from India. Having acquired over 50,000 subscribers with a 4x growth in the last seven months, Zouk aims to double its customer base every six months over the next 5 years.
The company will use its pre-series A funding to bring India’s rich heritage in a modern avatar to the US, Canada, Europe and West Asia in addition to expanding its team in India. Zouk also wants to expand its reach to offer contemporary products, thereby building categories and driving market acceptance for living a cruelty-free lifestyle.
Disha Singh, Co-founder and CEO, Zouk, said, “At Stellaris, we have found the right partner, who can guide us to become an iconic brand in the years to come. We are delighted that Rahul Chowdhri, Partner at Stellaris, will be joining our board. Our first milestone is upgrading Zouk to a Rs 100-crore brand in the next few years. We then want to chart a path to reach Rs 1,000 crore.”
“India’s D2C market is at its peak today; consumers have experienced a change in the mindset of choosing online for their shopping needs and Covid-19 is accelerating this behavior even more. There has never been a better time to build a new age consumer brand in and from India. The e-commerce marketplace and social media platforms provide a level playing field for challenger brands like Zouk to compete with older brands, and carve out their own niche,” said Rahul Chowdhri, Partner, Stellaris Venture Partners.
Bipin Shah, Partner at Titan Capital said, “Zouk has received phenomenal customer love, which has driven their consistent growth across online channels in recent months. We are pleased to double our investment in this round, as we believe that this is a rocket ship that will be massively scaled up to reach hundreds of crore of net annual revenue within this decade. It is impossible to stop the fantastic Disha and Pradeep.
The round was also attended by the founders of Wow Skin Science, a highly successful international D2C brand from India. Manish Chowdhary, Co-Founder of Wow Skin Science said, “Zouk’s 100 percent Vegan products, with their blend of style and function, have great potential in the global market. The real kicker for me is that all of their products have an essence of Indian craftsmanship and craftsmanship, which I believe will resonate well with consumers in the US, Canada and Europe.”