Customised apparel brand Alma Mater Store has received $200,000 (around Rs 1.37 crore) funding from Wazir Advisors’ Managing Director Harminder Sahni.
Alma Mater Store CEO Sachin Sahni said to Pixr8 News, “the company will use the funds for “expansion and investing in new technology”. We have a strong loyal customer base and we will continue to focus on building a profitable and sustainable business in the long term.”
Wazir Advisors Harminder Sahni Founder and MD said, “we are excited about how the customisation market is picking up in India. Customisation is the future of every consumer business…. Being the pioneer in their field, Alma Mater Store is ready to take up new challenges and we are delighted to be associated with them”.
As per the company, India is one of the fastest-growing markets for customised merchandise and is growing at a rate of 15 percent annually.
The total size of the market for customised merchandise is 110 million customers, out of which 20 million customers are college students, 40 million customers are corporate employees at mid and senior levels, and the remaining 50 million customers belong to the middle class of the society, the company added.
Sahni has invested in numerous startups including Capillary Technologies. Mcaffeine, Inkfruit, Burger Singh, Nivaata and YFM Uniforms.