Bonita India was a self-funded company operating on bootstrapped funds and has succeeded in raising a substantial amount basis its successful run in India and abroad. The brand has managed to establish its presence in over 25 countries so far and has credited the success of this to what garnered positive responses from investors.
The brand consciously decided to function on bootstrapped funds as it wanted to establish a strong brand identity, wide customer base and steady revenues before approaching outside investors. However, even for the first round of investments, they chose to approach a select few investors which also included family and friends.
Built with the intent to bring convenience and comfort to the users household experience, Bonita focused heavily on product innovation. They have managed to set up its brand name in countries such as USA, UK, Germany,Italy, Spain, France, Czech Republic, Poland, Belgium, Netherlands, Switzerland, Mexico, Australia, New Zealand and UAE with warehouses in US, Europe and UAE.
In India, it is available across 1,000+ stores in more than 45 cities and at major retail chains like Shoppers Stop, Home Stop, Hypercity, Home Town, etc. along with these they are also available across major e-commerce platforms like Amazon, Snapdeal, Pepperfry and more.
“It gives us immense pleasure to announce that we have completed the first outside investment at Bonita. Our company now has several individual patrons. The money raised in this round will be spent on brand-building exercises including BTL & ATL activities, investment in new product development, launches, creating product awareness and drive consumption at a pan-India level and further growing the distribution network,” said Mr Umang Srivastava, Joint Managing Director, Bonita.