Mumbai, April 30 -- Mumbai-based pop culture apparel brand The Souled Store (TSS) is looking to raise Rs.150-200 crore by July to fund its offline expansion, enter Gulf markets, and launch new categories following its acquisition of rival Redwolf.

"Our ambitions right now might be bigger than our purse. over the next 12 months, we plan to increase the size of our stores by 3x the current sq ft and also aim to enter the Gulf region," Vedang Patel, co-founder, TSS said in an exclusive conversation with Mint. The size of the stores is expected to increase from 60,000 sq ft to 180,000 sq ft, he added.

"For these reasons, we will raise around Rs.200 crore by June-July to fund these expansion plans. None of the existing investors will exit in...