Hindustan Times invests US$ 2.14 Million in lifestyle e-commerce startup Tjori

Delhi-based artisanal ethnic D2C brand Tjori has confirmed on July 5, 2021, of an equity deal of US$ 2.14 Million (INR 16 Cr) with the publisher of English dailies, Hindustan Times. Apart from funding, HT will also assist Tjori in building brand recognition in India and accelerating growth globally. 

Company’s Profile

Mansi Gupta, a Wharton University graduate, founded Tjori in Delhi-NCR in 2013 with a personal savings of $13387. She saw tremendous demand for Indian handicrafts abroad but failed to see many Indian brands in the market. 

Thus, Tjori started a multi-category, online-first artisanal ethnic brand consisting of apparel, wellness, home, and mother and child products. The startup concentrates on traditional and heritage handicrafts of India. “The inspiration was Zara, which rose from a petite boutique in Spain, and now has taken over the industry of fashion,” recalls Mansi. 

In 2019, the organisation was timing an annual revenue of $66 Million from 195 countries and raised $2 Million from family and friends in 2017. It raised pre-Series A fundraise to grow Tjori as an omnichannel brand in 2019.

In March 2020, the initial wave of the COVID-19 pandemic hit India, and the state went into a nationwide lockdown. As with every company, Tjori, too, felt the shock. The startup marked a $50,000 run-rate during COVID times and a 10% growth after the first flat months in 2020.

Purpose of Investment 

The agreement goes beyond equity investments, providing branding and marketing. The establishment with Hindustan Times will support growing label awareness in India and stimulate growth globally.

“The special opportunity here is a program access to HT shop where Tjori will be featured, to generate exponential promenades for both the brands,” explains Mansi. She continues that while the deal was expected to have closed last year itself, it took prolonged due to the pandemic. 

What the Investor has to say

CFO of Hindustan Times, Piyush Gupta, said, “We are pleased to declare our partnership with Tjori as it benefits us to venture into the e-commerce industry. The deal would bring an ocean of knowledge for all our readers concerning the re-modernised way of traditional Indian goodness that Tjori heartily suggests and we as allies believe in.”

Setting the foundation

Besides taking Indian artefacts outside, what Tjori has also done is to create jobs for 500+artisans. As of 2019, the startup had over one million visits per month and a repeat consumer base of nearly 50%. 

A case in point; the jamdani collection, which was sourced from the areas of West Bengal. “We work with chemical-free and cruelty-free commodities for manufacturing, and keeping in mind the sensitive skin of kids, we use plant-based fibre also milk fabric for their apparel category,” says Mansi. 

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Article