Sarthak Aggarwal
Co-founder and CEO, Theater
About
Sarthak Aggarwal is co-founder and chief executive of Theater Apparel Pvt. Ltd., the company behind Theater, a design-led fashion brand selling footwear, stockings, bags and perfumes. He started the brand in 2021 with Vikram Jain, Karan Jain and Shruti Aggarwal, who serves as creative director and previously ran the vintage shopping platform Retro Days. Aggarwal has said the founders started Theater because they could not find well-made, attractive accessories in India that were neither a luxury import nor a compromise, and set out to make them in India at prices below luxury labels. Theater sells mainly online, in a mass-premium segment, and names many of its shoes after pop-culture figures. It raised $1.5 million in a pre-Series A led by Prath Ventures in September 2024 and ₹75 crore in a Series A led by Niveshaay in September 2026, at a post-money valuation of ₹410 crore, with Physis Capital and Prath Ventures also investing. Entrackr reported that Aggarwal held 20.63% of the company after the Series A allotment, the largest founder stake.
Theater reported revenue of ₹33.35 crore in FY25, 2.37 times the previous year, and said the business had grown about eightfold over two years. Entrackr's filings-based report of the first Series A tranche (₹56.25 crore from Niveshaay, FirstPort Capital, Skagen Ventures and others) put the valuation at about ₹402 crore, up from ₹90 crore in the previous round, and listed Eternal Emerging Enterprises Fund as the largest institutional shareholder. The company plans to use the Series A to open physical stores in Tier I and Tier II cities and to step up brand-building, including celebrity partnerships.
Source: india.entrepreneur.com
