NEW YORK, June 12, 2019 /PRNewswire/ -- GUNAS,
America's first vegan handbag company, has successfully completed
its seed investment round of a quarter million dollars from an
anonymous angel investor at a valuation of USD $5 million.
Neil Mohinani, an independent
finance professional in New York
City, brought in strategic angel investors with the
objective of expanding the product offering and geographic reach of
the brand's customer base.
The angel investors saw GUNAS as a lifestyle brand aligned to
shifting millennial preferences associated with conscious
consumerism and high design. Mohinani believes the company is
on a growth path to cross a $100
million-dollar valuation within five years given its current
growth rates and product strategy.
Over the past four years, sales of GUNAS handbags and
accessories went up by approximately 30% annually as the brand's
message of mindful consumerism increasingly resonated with its
audience globally. The company has a growing social media base and
a healthy list of customers in over 40 countries. In June last
year, GUNAS won the Macy's Best Retail Bag Award in New York City through the Independent Handbag
Awards.
The company will use the $250,000
investment to introduce uniquely designed and 100% plant-based
artisanal beauty bars, starting with pure olive oil soap in
floral fragrances and volcanic ash. "Beauty soaps have a huge
opportunity in terms of being animal-free and formulated with pure
ingredients," said GUNAS founder Sugandh Agrawal. "This new
direction is an extension of our core values of inner beauty inside
and out, without harming any living being."
In addition to the monetary investment, the angel investor – who
prefers to remain anonymous – will provide GUNAS with trademarking
help, digital marketing and expanding sales in Asia, as well as placing the brand's fashion
and beauty products with Asian celebrities.
GUNAS is exhibiting at AmericasMart Atlanta, June 12-15, 2019, Booth #755.
About GUNAS
Self-proclaimed 'design addict' Sugandh Agrawal founded GUNAS in
2009 to fuse her passion for sustainable, cruelty-free fashion with
her love of aesthetics. Born in India and brought up in Germany and the US since she was a teenager,
Agrawal's international experience is reflected in her stunning
collections of luxury vegan handbags, which are hand-crafted in
South Korea, in sweatshop-free
facilities.
This mission-driven entrepreneur, who firmly believes that
animals do not belong in fashion, worked as one of the lead
industrial designers for Whirlpool and KitchenAid in Michigan before relocating to New York to study design management at the
prestigious Pratt Institute. After
deepening her industry knowledge at Be&D Handbags and
Victoria's Secret, Agrawal used her marketing and design skills to
launch GUNAS – America's first high-fashion vegan handbag brand.
Agrawal draws inspiration from nature and other cultures, and has a
knack for identifying emerging trends to keep GUNAS current,
ethical and eco-friendly.
Details: www.gunasthebrand.com.
Media contact:
Sugandh Agrawal, founder
Cell: +646.867.2290
Email: 216327@email4pr.com
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SOURCE GUNAS