SAIF Partners and angel investors including MakeMyTrip founder Deep Kalra have invested $5.5 Mn in Zovi.com, the first exclusively online apparel brand in India. Zovi.com will use the money to expand its supply chain, inventory and product range, and set up warehouses and a logistics team.According to Mukul Singhal, VP at SAIF Partners, "The idea for Zovi came from one of our successful investments in China in Vancl.com an online apparel brand."
Transaction Reference: Economic Times
Godrej Consumer Products Limited will buy Hershey's 51% stake in JV Godrej Hershey Limited, following management differences in running the entity.
SAIF Partners, one of the early backers of BSE listed local search directory, Just Dial has sold close to 2.4% stake in the company for a total of INR254 Cr. The part exit fetches the fund, a 30x returns on its seven year old investment.