Luxury Brand Louis Stitch Gets Funding From Family Office of PVR Founder

The Family Office of PVR's Founder Invests in The Luxury Footwear and Fashion Brand Louis Stitch

The Family Office of Ajay Bijli, founder and managing director of movie multiplex operator PVR Ltd, has acquired a minority share in men's luxury shoe and clothing manufacturer Louis Stitch.

This is the first venture capital investment made by the PVR family.

The logistics division of the Bijli company, ATC Logistics, which is managed by Bijli's son Aamer, has provided the necessary money. At a pre-money value of INR 1OO crore, Louis Stitch announced that it has received INR 5 crore from the Bijli Family Office. 

The four-year-old Indian label is now solely available online through its own website and the online marketplaces Myntra, Amazon, and Nykaa. The funds provided by the Bijli Family Office will be utilised to open up retail outlets of their own.

Bijli said that Louis Stitch had shown remarkable growth since its inception in the luxury fashion market.

Amol Goel, chief executive of Louis Stitch, said they had raised the funds to support growth and expand to offline stores with a network of exclusive brand outlets in key metros.

According to Goel, the money will be used to broaden the company's offerings, increase production capacity, and increase its distribution network.

According to Goel, the company will soon begin selling polo shirts, dress shirts and trousers in addition to its current offerings of shoes, jeans, bags and men's accessories.