Bagzone Lifestyles owns and operates fashion accessories brands Lavie, Lavie Sport, and Lavie Luxe. The company reported consistent customer growth and rising demand for newly launched products. It raised $9 million led by First Bridge India Growth Fund to support expansion initiatives. Proceeds will fund a 150,000-square-foot in-house manufacturing facility, the opening of 300 Exclusive Brand Outlets, and elevated marketing using brand ambassadors Ranveer Singh (Lavie Sport) and Anushka Sharma (Lavie). Bagzone aims to grow tenfold over the next five years, achieve 70% localization in sourcing, expand into Tier 2 and Tier 3 markets, and create about 1,000 jobs nationwide. Market context notes the Indian handbags segment is projected to reach US$4.19 billion in 2023 with a 6.14% CAGR from 2023–2026.

Total raised

$9M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2023