Mumbai-headquartered women’s footwear brand Catwalk Worldwide is in advance talks with private equity fund India Value Fund Advisors (IVFA) to sell around 26 per cent stake for $18 million (around Rs 100 crores). The plan is to utilise the raised equity for retail expansion by setting up standalone stores and few acquisitions for backward integration.
Founded in 1990, Catwalk has 40 stand-alone stores and around 250 shop-in-shops in India. Also, it is in talks with Sri Lankan retailer Odel and Isetan of Singapore to expand in Asian markets. From its inception in 1990, when Asif Merchant designed the first footwear for aspirational and fashion centric women of the country, Catwalk has become a leading premium brand with pan India presence
IVFA partners with entrepreneurs and management teams to build valuable, enduring and socially responsible businesses to generate immense wealth for all stakeholders. IVFA was established in 1999 and is one of the most experienced private equity firms in India, with $1.4 billion (Rs 7,533 crores) under management across four funds.
Source: Fashion United