Eume raises Rs 25 crore, plans retail expansion
Premium travel luggage and accessories brand Eume has raised Rs 25 crore in a Series A equity round led by investor Ashish Kacholia, with participation from existing backers Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial. The funds will be used to expand Eume's retail presence, enhance team capacity, scale up marketing efforts, and strengthen working capital as it grows within the premium luggage category.
'Our vision is to become India's premier luggage brand- and for that, strong marketing is non-negotiable,' said Eume's founder Naina Parekh, India Retailing reported. 'We will not compromise on brand appeal under any circumstances.'
Eume plans to open three flagship stores within 45 days in Bengaluru (at Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City), as part of its offline growth strategy. 'Eume's sales channels are rapidly expanding,' said the brand's co-founder Pranay Parekh. 'While we've seen robust growth online, our thoughtfully crafted price points are also well received in-person, and that's where offline becomes key.'
The brand is also focused on product innovation and premiumisation, tapping into India's evolving travel and lifestyle preferences. Eume's products range from travel luggage and 'Massager Backpacks' to vegan leather handbags and laptop backpacks among others, according to its direct to customer e-commerce store.
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