Fast fashion business Black Tree plans raise Rs 20 crore in investment in exchange for a 10 per cent stake in the business as it plans to expand offline with a franchise model.

As per Fashion Network, Black Tree plans to open branded stores on a franchise model. The business is offering brand and market analysis support and what it describes as “zero stock risk”. The business is self-funded to date aims to launch its first funding round to facilitate this expansion.

The business recently launched its hyperlocal delivery by courier as it aims to ameliorate its logistics for online shopping. The business aims to further cut down its delivery times to just one hour in some areas, it announced on its website.

The youth-focused brand has a presence in India, China, and Thailand, says Kundan Kumar, Founder and CEO. It aims to tap into the expanding millennial urban consumer market with a focus on value fashion.