ru-Net Walks In Mangrove’s BeStylish Shoes And Fancy Up With Freecultr

Russian entrepreneur Leonid Boguslavsky has invested, through his PE firm ru-Net, in Indian online footwear retailer BeStylish. Former investors include Mangrove Capital, which funded the retailer in 2011. The current investment from ru-Net is pegged at USD 8 mln. BeStylish is currently the largest online shoe retail store in the Indian ecommerce space, having rapidly grown since it founding only a year ago. ru-Net also pumped in USD 9 mln into Freecultr, an online retailer of fashion products like clothing and accessories. As early as 2006, the Indian VC funding scenario was already robust, with nearly 300 deals initiated with a total amount of USD 7.5 bln. As foreign investors seek opportunities in this burgeoning yet young market, this decade promises to be one favoring Indian entrepreneurs.