India-based SHR Lifestyles Private Ltd., women ethnic wear brand, Shree, owner, has raised 80 crore rupees ($11.5 million) from investment firm Alpha Capital.
SHR Lifestyles is planning to invest the new funds in further deepening Shree's reach in existing markets and open up new geographies.
Shree noted that it will extend its distribution network by setting up new retail stores, scale up its business geographically, add senior talent and increase its customer base.
Moreso, the deal will help Shree materialise its vision of growing to over 300 company stores in the near future in states including Kerala, Tamil Nadu, Maharashtra, Gujarat, Punjab and Himachal Pradesh, among others.