Mad(e) In India wants to raise Rs 30 cr for expansion

madindidiaLifestyle brand Mad(e) In India plans to raise Rs 30 crore as part of Series A funding by end of 2015 to scale up and augment its market presence and operations.

The firm uses a hybrid business model – both online and offline.

Mad(e) In India is a premium lifestyle brand headquartered in Mumbai. It started with a Facebook blog in March 2010, which talked about India and taking pride in being an Indian. Later in January 2013, it was formally launched and has three major consumer categories- Souvenirs, Gifting and Lifestyle accessories.

The total merchandise value of the company’s sales stands at Rs 2.26 cr. It has plans to become Rs 100 crore company in the next three years.

As part of its growth strategy, by 2020 the lifestyle brand plans to open 100 new outlets and be present across many multi-brand outlets across India. With its initial presence in Singapore, the brand plans to establish its footprints in Dubai and the US too in the current year.

Currently, apart from a significant online play, the premium brand has three of its own stores, presence across 21 multi-brand outlets, including India’s major international airports.