The Souled Store eyes ₹2K cr via IPO

POP CULTURE MERCHANDISE and casualwear retailer The Souled Store is looking to raise up to ₹2,000 crore through an initial public offering (IPO) in the next 18 months.

- URVI MALVANIA

The capital will be used to fund its international expansion plans as well as to increase its physical store footprint locally.

The finance team at the Mumbai-headquartered startup has started scouting bankers to decide on the details, Vedang Patel, co-founder, The Souled Store, told FE.

The firm, which started a decade ago with the proposition of pop-culture merchandise for the youth, will also increase store keeping units (SKUs) to include more trinkets like floor rugs, and decorative apparel patches.

"We have identified three levers of expansion - physical footprint in India, go international starting with Dubai, and the range of products available across platforms," Patel said.