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Alia Bhatt buys stake in fashion startup StyleCracker

 

 Bollywood actress Alia Bhatt has picked up a small minority stake in fashion-tech startup Style Cracker for an undisclosed amount, becoming the latest celebrity to turn investor. Bollywood actress Alia Bhatt has picked up a small minority stake in fashion-tech startup StyleCracker for an undisclosed amount, becoming the latest celebrity to turn investor.

The four-year-old company offers customers personalised fashion boxes curated by celebrity stylists. The 24-year old actress, along with a consortium of investors, have invested in the company as part of pre-Series A funding.

 

The four-year-old company offers customers personalised fashion boxes curated by celebrity stylists. The 24-year old actress, along with a consortium of investors, have invested in the company as part of pre-Series A funding.

“This has come from the heart and not mind,” Bhatt told.  “I am not actively looking for investments, but Archana has been my stylist for many years and when I came to know about StyleCracker, it seemed like a very logical move.

 

 

Post this round, company founders Dhimaan Shah, a former investment banker, and Archana Walavalkar former fashion editor, Vogue, will jointly own 65% stake in StyleCracker. Bhatt and a clutch of other investors, including a few investment bankers, a former private equity company trading head and a fund manager, will hold the remaining stake.

Shah, StyleCracker’s MD, said the company is a first of its kind tech-fashion start-up. “We are like style advisors for our customers. We are already seeing 60-65% repeat business, and this fund-raising will help us to scale up,” he said.

Currently, the company caters only to female customers. “But very soon we will also launch similar products for male consumers. Everyone needs a stylist,” Shah said.

Walavalkar, a creative director, said StyleCracker is a platform that “understands the customer, creates their unique profile and then curates a wardrobe that suits any mood or occasion”.

StyleCracker launched customised boxes four months back. Priced at Rs 2,999, Rs 4,999 and Rs 6,999, these boxes contain an apparel, accessories, cosmetics and even footwear.

The company shipped over 50,000 boxes across 35 cities in the last four months, says Shah. “We were surprised to see that there is more demand from tier II and III cities. From small towns, we get more orders for Rs 4,999 and Rs 6,999 boxes.”

He said the company can serve 1 million customers a month.

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