Gurgaon-based fashion portal Elitify.com is in talks with potential investors including Paytm for raising $2 million or about Rs 13 crore, people aware of the matter said. Elitify founder Amit Rawal confirmed that the company is looking to raise funds, but did not elaborate. In an email to Paytm, a copy of which was seen by ET, Rawal wrote that he is looking for $2 million in investment on the platform and has a “term sheet on the table”. Rawal further said that he is looking for a partner who not only has access to capital but also deep technology and e-commerce expertise. Elitify defines itself as a leading premium lifestyle website and offers apparel, handbags, shoes, accessories and beauty products for men and women from brands including Emporio Armani, Hugo Boss, Michael Kors, Vince Camuto, Guess, Aeropostale, Coach Furla, Ted Baker and Christian Dior. The portal also offers home decor products, audio and video, computers, phones, health and fitness goods and gaming accessories.
Source: Economic TimesGurgaon-based Elitify.com in talks to raise Rs 13 crore
Industry: Retail 2016-03-17
