On Thursday, Flipkart group announced a strategic investment in USPL- a youth-focused brand house which manages brand like Wrogn to rainforce fashion portfolio. The investment is undisclosed amount is a part of series F funding for USPL together with participation from existing investor Accel Partners. USPL have currently 750 offline stores in more than 100 cities across India. Meanwhile, Flipkart enters cloud gaming with take over of Mech Mocha!
Anjana Reddy, Founder & CEO- USPL mentioned in a statement that “Over the years USPL has been the home to a number of India’s best-known fashion brands for youth. Post pandemic recovery has been great for us and that we are at approximately 80 per cent of pre-COVID sales,”. The investment will significantly step-up the online strategy of USPL and can also help Flipkart to figure closely with the USPL team to brim over product offerings on its platform.
Flipkart Group CEO Kalyan Krishnamurthy added that “It is our constant endeavour to offer our customers a large range of products that meet their sensibilities. USPL’s unique brands, backed by celebrity endorsements, have a powerful charm for the young fashion-driven Indian consumer”.