Bagzone Lifestyles, a Mumbai-based retailer, has raised USD 9 million in funding from First Bridge India Growth Fund. The company, known for its brands Lavie, Lavie Sport and Lavie Luxe, offers a wide range of fashion and lifestyle products such as handbags, wallets and travel accessories.
With this investment, Bagzone plans to expand its offline presence by opening 300 brand outlets and establishing a modern manufacturing facility. The company aims to boost its growth and position in the industry over the next five years.
Furthermore, Bagzone aims to localise 70 per cent of its sourcing efforts and create job opportunities for 1,000 individuals across the country, contributing to the nation’s economy. It also plans to reach customers in Tier II and Tier III markets to cater to their evolving needs.
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