Fashion jewellery brand Voylla has entered the franchise business after opening 100 company-owned stores in December 2016. The company’s debut franchise store has opened in Ludhiana.
Voylla’s franchises will spread across the country in the coming financial year.
Vishwas Shringi, CEO, Voylla said, “The main aim of entering the franchise business is to expand our operations and business all over the country. These franchise stores will be self-sustained and will also provide good returns on investment to the franchise owners. We plan to open a hundred more franchise outlets in next five years.
Voylla retails its collections online through Voylla.com and on marketplaces like Flipkart, Amazon and Myntra.
The startup opened its first store in Delhi in December 2015. In October 2015, Voylla raised $15 million from the private equity firm Peepul capital. It raised two rounds of funds in 2012 and 2013 by Snow Leopard Technology Ventures.