Mojostar is a step closer to attaining its goal of launching retail brands in India through collaborations with celebrities as it’s talks with investors to raise Rs 64 crore in Series A funding are nearing completion. The company has already signed deals with Bollywood actors Tiger Shroff, Jacqueline Fernandez and if the company manages to raise funds this year it will give a big boost to the company to start manufacturing its brands.
The fashion labels with Tiger, Jacqueline and another Bollywood actor are expected to hit the market by 2018. Mojostar was formed in August this year when Kwan Entertainment and Dream Theatre decided to join hands to get into the celebrity brands business in India to cash in on the large, profitable fashion market.
Mojostar has roped in Abhishek Verma as its CEO who will be responsible for building the brands for the company with the celebrities. Verma has brand building experience as he played a pivotal role in creating Myntra’s in house brands like HRX, Roadster and Wrogn. Unlike the West, the concept of celebrity brands is relatively new to India with a handful of brands like Hrithik Roshan’s HRX, Shahid Kapoor’s Skult, Deepika Padukone’s All about You, Virat Kolhi’s Wrogn, Yuvraj Singh’s YWC, Sonam Kapoor’s Rheson amongst others competing in India’s $100 billion apparel market.
