Zalora, Rocket Internet's SE Asian Zappos Clone, Raises $100M More From Summit, Kinnevik And More
Zalora, a Zappos-style fashion e-commerce site in South East Asia backed by the Samwer brothers' Rocket Internet incubator in Germany, is today announcing its latest investment -- $100 million, led by Rocket Internet itself, along with regular Samwer investing partners Summit Partners, Investment AB Kinnevik, Verlinvest and Tengelmann Group. The is the largest investment in Zalora to date, and one of the biggest in an e-commerce startup in the region.
Squarekey Brings Premium Fashion Brands To India's Burgeoning Mass Of Online Shoppers
With India’s annual GDP growth of about 5 to 6 percent per year, a new wave of affluent consumers is coming. While there have been e-commerce successes like Flipkart, a handful of local startups are targeting the upper-end of the market. Squarekey is a startup that brings high-end fashion brands to India for the same prices as ones that a consumer would pay in the West. “Retail is stagnating the Western world,” said founder Avantika Daing. “The growth story is now in markets in India. We’re really addressing a big unmet consumer need. Our core base will include about 300 million users by 2015. Those are the potential users — the aspirational class that spans from the middle class to the upper-middle class.” The site offers clothes from about 65 brands including Nanette Lepore, Nicole Miller, BCBG Max Azria and Ben Sherman. While the site only opened last fall and Daing declined to share volume numbers, she did say that sales were growing by 30 percent month-over-month. Their ...
Stylish Office Products & Furnishing E-Tailer Poppin Raises $11.1 Million Series B, Prepares Offline Expansion
Poppin, an online office products and furniture shop whose goal is to make design more affordable (and Pinterest-worthy), is announcing today having raised $11.1 million in Series B funding. The round was led by TrilogyGrowth, a Canadian growth stage investment fund run by former Indigo Books & Music President Music president Joel Silver. Existing investors Shasta Ventures, First Round Capital, and company founder J. Christopher Burch also participated alongside a small group of angels, which included David Tisch and others. As a part of the new round Silver will be joining Poppin’s board. Burch had the concept for Poppin back in 2009, and later closed on $6 million in Series A funding in February 2012. He saw that people today now had access to great design at lower price points in so many aspects of their lives, but that didn’t seem to apply to the office environment. In addition, there’s a lot of crossover between work and home these days – with office spaces serving not only ...
Rocket Internet-Backed Zalora Reportedly Shuts Down Its Taiwan Operations
UPDATE: A spokesman from Zalora Taiwan said: Zalora Taiwan is conducting review of our operating model in Taiwan to shift some of the operation to our headquarter in Singapore. During the period, we would not be able to serve new order and we apologize for the inconvenience caused. We will resume the operation as soon as possible and keep you informed. Any returns and refund will also be honored according to the term agreed. All customers can contact us on firstname.lastname@example.org. Our customer service agent will response within 1 working day. We deny any rumors that we are going through a bankruptcy or closure. All payment to customers and our vendors are proceeded or will be preceded. All of our employees will be managed according with Taiwan labor law. We reserve the right to take legal action against anyone making untrue statement about us. One year after launching in Taiwan, Rocket Internet-backed Zalora may be shutting down its operations in the country. Though the Singapore-based fashion ...
Conde Nast Leads $20M Round In Boutique Marketplace Farfetch, Its Third And Biggest E-Fashion Investment In The Last Month
Farfetch, a London-based online marketplace for independent boutiques, has raised another $20 million, led by a new strategic backer, the fashion publishing powerhouse Conde Nast, along with participation from existing investors Index Ventures and Advent Venture Partners. 2013 is shaping up to be a big year for Conde Nast in the world of European e-fashion investments: this is the third investment announced in the last month, with the first two coming out of the Conde Nast Germany subsidiary, for online jewellery shop ReneSim, and online designer shop Monoqi.