New Delhi: Indian bags and luggage brand Zouk has raised $10 million in a Series B round led by Aavishkaar Capital, with participation from existing investors like Stellaris Venture Partners, Titan Capital, Winners Fund, Sharrp Ventures, and the JJ Family. It has now raised a total of $14.5 million to date, the company shared in a media announcement.
With the new capital, Zouk plans to accelerate its retail expansion, aiming for 75 exclusive brand outlets, alongside ramping up marketing and supply chain capabilities. Zouk envisages capturing a significant share of the Indian bags and accessories market that is estimated to grow at a CAGR of 12 percent to reach US$ 10.6 billion by 2024.
Pradeep Krishnakumar, co-founder of the company said, “This fundraise will help us scale both online and offline, building on the strong product-market fit we’ve already established.”
“This capital will also enable us to expand our teams and build a large consumer brand from India for the world in the coming years,” Zouk co-founder Disha Singh added.
Aavishkaar Capital’s Divya Gupta highlighted Zouk’s blend of Indian craftsmanship with modern design, emphasizing its impact on over 1,000 artisans. “We believe Zouk is well-positioned to lead in India’s growing bags and accessories market,” she added.
Founded in 2016, the firm has a customer base of over 7 lakh across India. Recently, it has also expanded into the luggage category with backpacks and trolley bags.
Moving forward, Zouk plans to further grow its luggage and accessories line, meeting the rising demand for premium, purpose-driven products.
