Lifestyle startup Zouk has raised $3 million in new funding and has plans to expand its product portfolio and increase distribution, launching five exclusive brand stores this year, according to a statement.

Stellaris Venture Partners led the round with participation from Sharrp Ventures, JJ Family Office, Deutsche Bank India CEO Dilip Khandelwal, Atomberg’s Manoj Meena and Sugar Cosmetics’ Vineeta Singh, Kaushik Mukherjee, the statement said.

Founded by IIM Ahmedabad classmates and husband-and-wife duo Disha Singh and Pradeep Krishnakumar, Zouk sells bags, purses and footwear.

Since its last funding round in mid-2021, the brand has grown 10x and now has over 400,000 customers in India, according to the company.

According to the statement, Zouk combines Indian handcrafted designs and cruelty-free materials.

In 2022, it expanded into the footwear category, becoming PeTA-approved vegan.

“With the influx of new funds, Zouk plans to launch five exclusive brand stores this year to expand its product portfolio and increase distribution channels,” the statement added, “Zouk plans to capture a large share of the bag and accessories market in India that is estimated to grow at a CAGR of 12% to reach $10.6 billion by 2024.”

Zouk’s latest funding round builds on its previous funding of $1.5 million.

“We will see some exciting things in the next 18 months. We are rapidly expanding our range in bags and footwear to offer a wider Indian range,” said Zouk founder Disha Singh. Regarding distribution, Zouk is now available at more than 50 offline retail touchpoints.