Youshine, an omni-channel fashion jewellery and accessories retail brand, catering to young, cosmopolitan Indian women has announced its plans of raising Rs 25 crore from venture capital and private equity firms for scaling up business in India.
It had previously raised 1.5 million US Dollar between 2012 and 2014 through self-funding from the founders and from Angel Investors based in Switzerland. The company also plans to foray in international markets in West Asia and Africa.
Catering to young, cosmopolitan Indian women, the brand in the second year itself witnessed a whopping 200 per cent growth. Youshine claims it has consistently notched up double digit growth every year since then. The company’s target is to become the number one Indian brand for fashion jewellery and accessories by 2018 with 100 outlets across India in the next three years with expected revenues of Rs 100 crore.
The brand boasts to be the only one in India which launches five new high fashion jewellery products every day without a repetition. It has also strong partnerships with top e-commerce fashion marketplaces in the country such as Myntra, Koovs, Jabong, Amazon and Flipkart.