New Delhi, July 12 -- As India's appetite for premium fashion grows, a new venture founded by former H&M India executives is betting there is room between fast fashion and luxury-and that global brands want a different route into the country.

Confluxe, launched by Louis Coucke and Rajesh Narkar in March, aims to bring international apparel labels to India through an asset-light model that handles sourcing, merchandising, marketing, technology and retail expansion while allowing brands to retain greater visibility over their business.

The company raised $1.6 million in pre-seed funding in March from Wavemaker Partners and Kriscore Capital. It is targeting a Rs.500-1,000 crore business over the next three to five years by introducing inte...