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.
Delhi based Yogya Enterprises is planning to raise R1.5 Cr by issuing 1 Mn equity shares at R15. The company plans to list itself on the SME platform.