Bangalore based online lingerie brand, Buttercups has raised an undisclosed amount in a fresh round of funding from Snapdeal’s ex-CPO, Anand Chandrasekaran and existing investors – Kanwaljit Singh and Manoj Varghese. This announcement comes hot on the heels of Buttercups doubling its customer acquisition in the past 12 months.
Since its inception in 2013, Buttercups’ success has stemmed from boldly embracing the unconventional, within the lingerie segment. From pioneering the fitting room concept, and using a multi-channel strategy for acquisition and retention, to creating a product line that remains matchless on design aesthetics and functionality, the brand has managed to build a distinct and sustainable advantage in the lingerie category.
Commenting on the company’s business strategy, Arpita Ganesh, Founder and CEO said, “We have always been clear about how we want to build the business. We are a digitally native brand focusing on the quality of our products, and a great customer experience. The unique online quiz, which guarantees a perfect fit and allows us to scale beyond geographic constraints, as well as the personalised fitting rooms experience, are both results of this focus. We also believe that scaling need not come at the cost of profitability. The endorsement and support from seasoned investors like Kanwal gives us the confidence to continue this approach.”
The funds will help Buttercups accelerate its growth plan, both offline and online, as it continues its evolution as a customer-focused lingerie brand.
Speaking on his investment and association with Buttercups, Anand Chandrasekaran said, "I believe that a great business model and innovative product plus a driven and passionate entrepreneur is the recipe for startup success. My association with Buttercups is guided by Arpita's vertically focused approach and her thoughtfulness in building a modern brand for women. Her emphasis on rejigging the category landscape through deep customer focus and industry knowledge will lead to a very interesting omnichannel business getting built. "
Buttercups is a culmination of Arpita’s decade long experience in the lingerie space. Having fitted over 3000 women, her insights on product as well as customer experience are unparalleled in the ever evolving category. Buttercups is currently working towards opening its innovative and experiential fitting rooms across 12 cities.