Convergent Finance LLP has announced that investment funds managed by it will offer US $ 18 million of growth capital to Kapsons Group. Kapsons has been at the forefront in introducing India’s Tier-2 and Tier-3 cities to the world’s best fashion brands, emerging as a go-to partner for global brands venturing into Northern India outside the metropolitan cities.
The new infusion will help Kapsons scale up its design and high-end garment manufacturing capabilities through brand-centric alliances. It also aims to intensify its expansion across the country, enhance operational efficiencies, and fortify corporate governance practices. India’s premium apparel market, worth around US $ 26 billion in FY ’23, is expected to grow almost two-fold to US $ 57 billion by FY ’27, growing at a CAGR of 21.2%. Having already established its foothold in smaller cities, Kapsons is poised to leverage this increase in demand.
Speaking about the alliance, Kapsons Group Founder and Chairman Vipin Kapoor said the alliance confirms the company’s vision of becoming a market leader in high-end fashion. He added that Convergent’s hands-on engagement and long-term view find synergy with their vision and will enable unlocking the next level of growth for Kapsons.
Harsha Raghavan, Managing Partner at Convergent Finance, emphasised Kapoor’s achievement in developing Kapsons as a leading fashion player in North India. He said that they are keen to partner with the team in taking the business to national level and forging it as a leading player in India’s rapidly growing premium apparel market.
The organisation has established associations with legendary brands like Tommy Hilfiger, Hugo Boss, Calvin Klein, Gant, Forever New, G-Star, Armani Exchange, Mango, Vero Moda, Jack & Jones, Superdry, and U.S. Polo Assn.
