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Universal Sportsbiz raises Rs 46 cr; to touch Rs 100 cr revenue by 2016

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Universal Sportsbiz Pvt. Ltd (USPL), the owner of fashion brands Wrogn, Imara and Collectabillia, has raised Rs 46 crore from existing investor Accel Partners. This is the second round of investments by Accel Partners in the company. Accel Partners had invested Rs 17.25 crore in July 2012.

“The present round of investment will be used to accelerate USPL’s growth plans. We closed the financial year 2015 with revenues of Rs 25 crore and plan to end fiscal 2016 with revenues of Rs 75-100 crore as we expand our offerings and presence online and offline,” Anjana Reddy, founder of USPL, said in a statement.

USPL offers celebrity fashion lines of Virat Kohli and Shraddha Kapoor under Wrogn and Imara brands. It also has Collectabillia, an online celebrity fashion accessories and merchandise brand, which works with sporting icons including Saina Nehwal, Sania Mirza, Virat Kolhi, Yuvraj Singh, Vishwanathan Anand, Sir Vivian Richards and Adam Gilchrist.

The company also plans to expand the presence of Wrogn, which is retailed with Shoppers Stop and Myntra as exlusive partners for offline and online respectively. Currently Wrogn is available in 30 Shoppers Stop stores and by the end of the year it will be avilable in all 75 stores of the department store chain.

Imara is presently retailed at select stores of Central, Ethnicity, Shoppers Stop and is available online on Amazon, Flipkart, Jabong, Myntra and Snapdeal. “We will add more categories under these brands,” Reddy informed.