CHENNAI, India, November 21, 2014 /PRNewswire/ --
Cbazaar.com is the technologically innovative and fashion forward portal offering high quality Indian Ethnic Wear to the Indian diaspora across the world. There are approx. 20 million Indians in the diaspora across the world and they are one of the most affluent groups of migrants, with a desire to get the best of Indian fashion. Serving customers across 132 countries, Cbazaar has a large and loyal customer base, mainly due to the high level of Made to Measure and customization services, latest fashions, and innovative tie ups with the Indian film and television industry.
(Logo: http://photos.prnewswire.com/prnh/20141121/717830 )
The founders of Cbazaar.com, Rajesh Nahar & Ritesh Katariya, have built this brand since 2005 and have deep rooted domain expertise in this category. They have built a strong sourcing network across India which offers quality and value.
This round of funding is for Cbazaar.com to strengthen its presence in the core markets of the USA and UK, and to accelerate growth in other potential markets. The new investment will help Cbazaar.com enhance its strong supply chain, build brand equity across markets, invest in marketing to expand its large customer base and to invest in technology to help it build scale and efficiencies. The existing investors, Inventus Capital Partners and Ojas Partners, are also investing in this round.
Samir Inamdar, Co-founder, Managing Director and CEO of Forum Synergies, said: "We see a huge opportunity in the market addressed by CBazaar.com. We are excited to be invited to participate in the growth of the company along with the Series A investors and the dynamic management team."
Forum Synergies Co-founder and Managing Director, Hemchandra Javeri, would be joining the board of Cbazaar.com.
"We are excited about the potential Cbazaar.com offers to meet the significant global demand for Indian fashion. The team is passionate, experienced and committed to delight discerning consumers with innovations and technology," says Hemchandra Javeri, Co-Founder and Managing Director, Forum Synergies (India) PE Fund Managers.
Forum Synergies is a unique Indian Private Equity Fund Manager led by a team of former CEOs, who have strong business leadership, operating expertise and investing experience. This is Forum Synergies' fifth investment. For more details, see http://www.forumsynergies.com.
Contact
Sreenivasan Padmanaban, +91(044)66040000, [email protected]
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