Bollywood is now on the fashion upstart!  This week, Polyvore investor Sequoia Capital granted FashionAndYou.com $8 million in venture funding to build up its supply chain for premium brands sold at a discount. The investment was part of series of investments in India based start-ups.

“Fashion and You’s early leadership, scale and world class management team was a big driver in our decision to back them. We believe we have the early makings of a big company here,” said Shailendra Singh, MD of Sequoia Capital.

Luxury sales are on the rise with many luxury retailers reporting double or triple profit margins in Q3. The wealthy want to spend. It comes as no surprise then that invitation-only private sales website Cocosa has plans to expand by selling luxury home, travel, and lifestyle goods.

Luxury has a trickle down effect; it seems as though consumers are forgetting the recessionary blues and are starting to power the economy again with their hard earned dollars.  As Newsweek reports, Americans are spending again, whether they can afford it or not.