Technology

American Swan raises Rs 400 mn from Four Cross Media

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MUMBAI: American Swan Lifestyle Company, a fashion and apparel-led lifestyle company, has got an investment of Rs 400 million for its Indian business, from global digital media conglomerate Four Cross Media.

American Swan has opened its doors to the e-tailing market with its online shopping site – AmericanSwan.com.

The brand’s new shopping portal will offer customers a range of products spanning categories such as Men’s and Women’s apparel, footwear, accessories, beauty, home and living products.

The American Swan Lifestyle Company (TASLC) director and CEO Anurag Rajpal said, “As consumers in India look for global designs and standards with affordable pricing and the convenience of a click, American Swan expects to garner a significant share of the apparel and lifestyle market.”

"The American Swan brand has been conceived and developed to be aspirational, accessible and affordable. We aim for a differentiation through our brand proposition and positioning to offer affordable luxury to an aspiration-led audience that seeks international quality and fashion. Our product detailing, packaging and fulfillment is at par with the international standards,” Rajpal added.

The Fashion and Lifestyle segment in India, estimated at 17 per cent of the total retail market, is worth over $60 billion reported in a PwC research. Growing at a compound annual growth rate (CAGR) of 15 per cent to 20 per cent, this is estimated to grow to over $90 billion in 2015.

According to the company, the Indian urban consumer is actively seeking and purchasing branded merchandise in categories like Apparels, Cosmetics, Shoes, Watches and Jewellery. Similar growth is visible in e-tailing and American Swan will be pioneering an active mix of the brick-n-click formats by opening itself to both online and retail distribution networks.

Four Cross Media co-founder and managing director Asia Puneet Johar said, “With American Swan we are focused towards building an aspirational lifestyle brand. Our focus is to build compelling consumer engagement using digital media as that is a space we understand and are confident about.”

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