There is a remarkable shift in the Indian travel and lifestyle industry, with emerging startups having a growing interest in physical retail to supplement their digital presence. Travel gear and accessories startup Escape Plan has raised $25 million in its second round, marking what can be considered a major step in the industry. The funding round was led by Jungle VC. The funding round also witnessed participation from Fireside Ventures and new investor IndiGo Ventures, the VC arm of IndiGo Airlines. The main focus of this capital injection will be on the aggressive spread of the offline presence of the brand nationwide, as one of the strategic shifts towards a strong omnichannel retailing model.
Capital infusion
The latest round of funding indicates a rise in investor confidence in the travel gear market, which is no longer focused on functional luggage but has become a lifestyle category. The investment of the amount of $25 million will also be the trigger that will help Escape Plan transform into a digital-first brand and become a leading physical retailer. With this substantial value, the company will be in a position to create a more direct relationship with its customers so that they can not only feel the quality and design of the products themselves but also make a purchase.
The main aim of this fundraiser is to expand the physical presence of the brand in major cities. Escape Plan will use the capital to establish flagship stores and experience centers in major metropolises and in Tier I and Tier II cities. The decision is aimed at seizing a larger portion of the offline market that continues to represent a key consumer expenditure in the Indian travel and luggage market.
Strategic expansion and leadership
The expansion plan of Escape Plan will focus on establishing a retail network that is all-inclusive and covers different regions of India. The company has already realized that e-commerce offers reach, but in-store physical outlets offer a rare brand-building and customer experience. The new offline shops are not only thought of as a place of sale, but also as a place of immersion, where the travelers can immerse themselves in handpicked collections of luggage, backpacks, and modular accessories.
In this expansion, the startup is targeting locations with high traffic, e.g., high-end shopping malls and high street. With a presence in these locations, Escape Plan will focus on the modern traveler who wants to have an approach to both functionality and fashion-oriented design. The offline growth will also help strengthen the brand, which cannot be said of the online network since a tangible network usually increases consumer confidence and brand recognition in a competitive market.
Although the growth of physical stores is one of the priorities, the investment will also fund the implementation of these offline resources with the digital mediums of the brand. Escape Plan is striving towards a smooth omnichannel experience where clients are able to shop online and purchase at the store, or the other way around. This plan involves the use of the physical shops as fulfillment hubs for the delivery of quick-commerce orders so that consumers can get their travel accessories within record time.
The executives of the business think that the offline presence is critical for the long-term survival in the travel gear sector. Escape Plan will have a greater chance to succeed in the Indian retail landscape through diversification of its distribution channels. This offline and online touchpoint will enable the company to gather more valuable insights into consumers and offer its products according to the unique needs of various traveler profiles.
Conclusion
The Escape Plan’s achievement of a successful $25 million funding round is a crucial step for the company, and it is on a path to revolutionize the travel accessories industry in India. The move towards increasing its presence offline is therefore closing an essential divide in the D2C arena, the necessity of physical points of contact in a category where touch and feel are essential. With a nationwide expansion of its brand, the modern Indian traveler is already turning into a household name, with the benefits of online shopping and the safety of a traditional shopping experience combined.
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