One of the foremost online entities in the field of luxury brands and design apparel, Fashionandyou.com has reportedly raised an impressive sum of $8 million in venture capital from Sequoia Capital India, thereby giving this online shopping website, a whole new platform for expansion and betterment of services. Fashionandyou is quite well renowned in the luxury market, as an entity that provides its users with access to more than 400 luxury brands, and that too at discounted prices, where in the site’s inventory mainly focuses on apparel, accessories and home ware. The services launched in the month of November last year by Pearl Uppal, in collaboration with Founder and CEO of Smile Interactive Technologies Group, Harish Bahl.
This latest round of venture capital, amounting to a whopping $8 million, will enable Fashionandyou to create a more dynamic competitive environment in the luxury industry, and will be focusing on a user-friendly website and providing different payment options for the consumers. Fashionandyou has already been seen a potentially lucrative goldmine and the service has got itself some of the biggest market players, as its investors, including Group Buying Global AG, Russia (KupiVIP), Brazil and Mexico (Brandsclub), Turkey (Markafoni), Middle East (Sukar), Australia (BrandsExclusive), and Switzerland (FashionFriends).
According to Harish Bahl,
“We will be investing in technology, CRM, logistics and reverse logistics to get ecommerce to the next level, which is not an easy task. It is very operations-heavy and to sustain the growth we have seen so far, we will have to invest in infrastructure. We will also work closely with the trade and add more brands.”
Via VC Circle