Harminder Sahni of Wazir Advisors invests $200,000 in Alma Mater
Bangalore based Alma Mater Store, India's largest customized apparel brand has received commitment for funding of $ 200,000 from Harminder Sahni, Managing Director, Wazir Advisors. Being the first one to bring the concept of customized apparels, Alma Mater Store is led by Mr. Sachin Sahni. The brand pioneers in mass and online customization in India. It has the vision of turning people’s vision and imagination into reality.
India is one of the fastest growing markets for the customized merchandise and is growing at the rate of 15% annually. It is currently dominated by local unorganized players, but as several people are looking for hassle free solutions, the demand for the organized players is on surge in recent past years. The total size of market for customized merchandise is 110 million customers, out of which 20 million customers are college students, 40 million customers are corporate employees at mid and senior levels, and the remaining 50 million customers belong to the middle class of the society.
“We are excited about how the customization market is picking up in India. Customization is the future of every consumer business and online is the channel future. Being the pioneer in their field, Alma Mater Store is ready to take up new challenges and we are delighted to be associated with them. ”, said Mr. Harminder Sahni, Founder and MD, Wazir Advisors.
Mr Harminder Sahni is an active angel investor and has invested in numerous startups including Capillary Technologies. Mcaffeine, Inkfruit, Burger Singh, Nivaata, YFM Uniforms etc.
Commenting on the recent funding, Mr. Sachin Sahni, CEO, Alma Mater Store said, “With customization gaining popularity in India, we wish to scale our operations and expand our footprints. Thus, the funds will be utilized in our expansion and investing in new technology. We have a strong loyal customer base and we will continue to focus on building a profitable and sustainable business in the long term.”
Over the years, Alma Mater Store has worked with more than 2500 schools and colleges in approximately 190 different cities having customized over 1 million tees and hoodies. Recently, the brand did collaboration with 91 Springboard, a few startups and freelancers. Also, the brand has worked for Google, Amazon, Infosys, IIMs, IITs, XLRI & Microsoft.
