NEW YORK, March 25, 2015 /PRNewswire/ -- YOGASMOGA®, has announced that it has closed its Series B Financing Round; raising money from investors in a deal valuing the Yoga inspired athletic company at $74 Million.
The company additionally announced the expansion of its retail footprint with a new store experience opening in Summer 2015 in the MGM Building on Dayton Way in Beverly Hills, California.
"Yoga today is a Lifestyle –– it is synonymous with women's wellness & fitness and more and more men are joining in. YOGASMOGA is at the heart of this lifestyle movement and investors value and support our fast growing brand that stands for high quality, Made in USA product," said YOGASMOGA CEO Rishi Bali.
Ravi Singh, a former Goldman Sachs partner and the company's Board Director commented, "The valuation of YOGASMOGA reflects the fast growth trajectory the company has achieved. This new raise gives the company financial bandwidth to expand its retail and operational footprint at a very rapid pace and be a strong contender in the category.
"We are tremendously excited to bring YOGASMOGA adjacent to the worlds leading brands on Rodeo Drive. Our ability to open a retail experience store in the world pre-eminent shopping destination reflects the strength and ethos that YOGASMOGA brings as a brand and the cultural lifestyle shift in consumer tastes," commented Tapasya Bali the Co-Founder and COO. "YOGASMOGA Beverly Hills follows the successful launch of our stores in Greenwich, Connecticut and Brentwood, Los Angeles and we expect to launch an additional 10 stores in 2015."
YOGASMOGA® is a designer, manufacturer and retailer of Yoga-inspired athletic apparel.
YOGASMOGA was founded with a mantra of innovation and a core of authenticity. From innovative fabric technologies to non-retouched photography, YOGASMOGA prides itself on a responsibility-based reputation that inspires deep, direct and lasting connections with its consumers.
The company's founders, Rishi and Tapasya Bali have an authentic connection to the spiritual practice of yoga. Both siblings were born in India in the foothills of the Himalayas and spent their formative years in the region considered to be the birthplace of yoga.
Headquartered in New York City, YOGASMOGA products are manufactured in the USA and are available at www.YOGASMOGA.com.