Brands
The Bear House hares into physical retail with Rs 50 crore fund infusion
MUMBAI: The Bear House, a Bengaluru-based contemporary menswear brand, has secured Rs 50 crore in Series A funding led by JM Financial India Growth Fund III, as it prepares to claw its way deeper into India’s competitive fashion landscape.
The sartorial upstart, which has built its reputation on “elevated core” menswear for young professionals who need versatile attire that transitions seamlessly from boardroom battles to evening revelry, plans to use the investment to expand its brick-and-mortar presence, shore up working capital, and beef up marketing efforts.
Having conquered the digital sphere through its own website and major fashion marketplaces including Myntra, Ajio, Flipkart and Nykaa, The Bear House recently opened its first physical outpost in Bengaluru last month. With fresh capital now in its coffers, the brand aims to unleash approximately 20 additional stores across India over the next two years.
“We are optimistic about the growth of India’s online branded apparel market, especially in the men’s business-casual segment,” said JM Financial managing director, private equity Siddharth Kothari. “The Bear House has demonstrated impressive growth by leveraging its unique design sensibilities and direct-to-consumer strategy to build a loyal customer following.”
For a company that has thus far ruled exclusively in the digital realm, the push into physical retail represents a significant evolution in its growth strategy. Founded in 2017, the brand has cultivated a reputation for chic, uncluttered designs catering to urban professionals who want to look sharp without appearing trussed up.
“This growth capital infusion will help us accelerate our expansion plans and strengthen our brand’s presence,” said The Bear House co-founder Harsh Somaiya. “As we scale our offline footprint and invest in brand-building, we remain focused on staying true to our design philosophy.”
Perhaps most impressive is that The Bear House has managed to build a Rs 150 crore+ online brand while remaining bootstrapped and profitable—no small feat in an industry where red ink often flows as freely as champagne at a fashion week after-party.
Dexter Capital served as the exclusive advisor on the transaction, with its investment arm, Dexter Ventures, also participating in the funding round.
“Today’s young professional consumer is looking for a stylish persona at work and outside without compromising with comfort,” noted Dexter Ventures general partner Anuradha Agrawal, adding that the company’s success stemmed from Somaiya’s manufacturing expertise paired with his co-founder Tanvi’s design skills.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
