D2C womenswear brand Berrylush on Tuesday announced that it has raised a funding of Rs 8 crore from revenue based financing platform, Klub. The brand is planning to use the capital to drive strategic initiatives, strengthen the product offerings, and enhance customer experiences across platforms. “This investment comes at a crucial juncture as we gear up for the festive season, where we anticipate a great demand surge of 80 per cent as compared to 2022. The funds with zero equity dilution will enable us to enhance our infrastructure, expand our product range, and amplify our marketing efforts to provide our customers with an unmatched online shopping experience,” said  Alok Paul, Co-founder and COO at Berrylush.

Berrylush has demonstrated revenue growth of 5X in the last two years, the brand stated. “We are also going to expand our product portfolio. Recently, we have launched swimwear, winter wear, knitwear, perfumes, bags and belts,” said Alok Paul. The brand had recently also launched a size inclusive sub-brand, Berrylush Curve, which is contributing to 11 per cent of its net revenue currently.

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The D2C brand also aims at expanding its presence across various market segments and broadening its reach across geographies. “We are planning to expand globally through our website, mobile app and Amazon to the USA, Europe and Australia in the start of 2024. We are currently setting up our supply chain for the same,” said Alok Paul.

“We are focusing on profitability this year by improving efficiencies operationally and targeting an EBITDA of 15 per cent. It was between 5- 8 per cent the previous year. We have implemented our ERP last year and are seeing its benefits this year as we have a very good real time view of every department currently,” Alok Paul said. 

Over the past two years, Berrylush has shipped over 2 million products, generating approximately Rs 110 crore of net revenue and experiencing an on-year growth rate of over 80 per cent. The brand recently expanded into physical retail by opening its first brick-and-mortar store at Gaur City Mall in Greater Noida, followed by six other exclusive brand outlets located in Delhi, Surat, Indore, Rohtak, Hisar, and Hyderabad.