Inc.5 Shoes, a legacy footwear brand with 25 years of market presence, has raised USD 10 million in its Series A round led by Carpediem Capital. Moreover, the round also saw participation from public market investor Param Capital and P3 Venture Fund (Sureka Family Office).
The footwear brand plans to use the funding to expand store count, amplify its online presence, strengthen senior leadership, expand categories and build backend capacities like inventory management technology. The brand aims to scale its existing presence by threefolds, solidifying its footprint in urban areas and targeting Tier II and Tier III cities.
Founded in 1998, Inc.5 Shoes has over 70 exclusive brand outlets and 200 shop-in-shop touchpoints across the country.
Dexter Capital Advisors was the exclusive financial advisor to the transaction. ICUL and Antares were the legal advisors to Inc.5 and Carpediem, respectively.
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