StyleAsh, Fueled by Klub: A Fashion Phenomenon on the Rise with Strategic Debt Funding Growth

StyleAsh, an online fashion brand supported by Klub's debt funding, is poised to achieve significant milestones in the fiscal year 2024, leveraging its distinct position in the fashion market. Earlier this year, Klub injected an undisclosed amount into StyleAsh to enhance its marketing efforts leading up to the festive season.

Identifying a gap in the market in 2019 for affordable high street global fashion tailored to the needs of the growing working women segment in India, StyleAsh was founded in 2020. At that time, only a few major players, such as Zara and H&M, were addressing this demand. The brand gained momentum, witnessing a remarkable 150% increase in sales in FY23 compared to FY22. This upward trajectory continued into H1 FY24, with a staggering 400% sales growth compared to the same period in the previous fiscal year. In FY24, the Monthly Revenue Run Rate surged to 5X compared to FY23.

Presently, StyleAsh is achieving a Gross Merchandise Value (GMV) of over INR 50 lakhs per month in FY24, with a target of reaching a GMV of INR 1 crore per month by the end of 2024. The company aims for FY24 sales of INR 8 crores, gearing up for a 200% growth in the next fiscal year. The strategic focus includes intensified efforts in marketing, app development, supply chain enhancements, and establishing an omnichannel presence.

Ashima Srivastava, co-founder and Managing Director at StyleAsh, emphasized the brand's commitment to innovation and meeting the evolving needs of the fashion-conscious community. The growth witnessed in 2023 underscores their dedication to quality, unique designs, and staying ahead in the dynamic world of fashion through technology.

Differentiating itself from competitors, StyleAsh's designs align with global fashion trends while incorporating unique elements resonating with its clientele. The company plans to implement a 360-degree view of all products online, develop a user-friendly mobile application, and leverage social media platforms through influencers, YouTube stars, and bloggers.

Abhishek Arora, co-founder and CEO at StyleAsh, sees the partnership with Klub as a pivotal milestone, strengthening their financial foundation and validating their unique position in the fashion industry. The investment from Klub not only supports their commitment to delivering aspirational fashion but also positions them for remarkable growth.

Specializing in providing customers with unique and aspirational fashion through combo sets, StyleAsh follows a "test and repeat" model. This involves producing small batches of various styles to quickly identify best-selling pieces and efficiently scale production. Initially a direct-to-consumer (D2C) brand, StyleAsh entered the marketplace arena by going live on Myntra in August 2023. As part of its scaling strategy, the brand plans to onboard other relevant marketplaces in H2 FY24 and FY25, aiming for broader market reach through an omnichannel presence.