Stake sale · Commerce & Consumer Brands

The Souled Store eyes deal at triple valuation

By Startup Enthusiast · 29 September 2026

What they do

The Souled Store is a Mumbai apparel brand that sells its clothing directly to shoppers rather than through middlemen

It is negotiating a ₹400–500 crore deal led by 360 One Asset Management, made up mostly of existing shares changing hands

The deal could value the company at ₹4,000–5,000 crore, over three times its previous valuation of ₹1,500 crore

The Souled Store is in talks to raise ₹400–500 crore.
360 One Asset Management is leading the deal.
Most of the money will buy shares from existing holders (a secondary sale), not new shares.
The deal may value the brand at ₹4,000–5,000 crore.
Its previous valuation was ₹1,500 crore.

A jump of more than three times shows strong investor demand for the brand.
Secondary sales give early backers and staff a way to cash out without a listing.

It sells licensed fan merchandise: t-shirts, boxers, backpacks, mobile covers, socks and badges based on films, shows, sports teams and musicians.
Its buyers are young shoppers who want to wear their favourite characters and teams.
It makes money by selling its own branded products online and through its own shops.
What sets it apart is its official licences with entertainment brands.
It reported about ₹492 Cr operating revenue in FY25, up 37% on the year before.
Based in Mumbai, it has a community of over 5 million active customers and 36+ offline stores.