FashInvest

Zalora, the ecommerce Platform that Keeps on Getting, Receives another Injection of Funding

admin — Wed, 22 May 2013 20:05:47 +0000

ZALORA, one of Southaast Asia’s fastest-growing e-commerce platforms, has secured a new round of funding totaling US$100 million (roughly S$124 million) from a few investors, including Summit Partners, Investment AB Kinnevik, Verlinvest and Tengelmann Group.

This is the third round of funding for the platform since September 2012, proving the ecommerce is still in demand. This new round of funding also represents one of the largest e-commerce investments in the emerging market space.

Many are speculating that the ecommerce industry is just a bubble waiting to burst, while others argue that it is here to stay. While consumers enjoy the convenience that ecommerce brings to their shopping experience, many are reporting that there’s nothing like being able to see and feel what they’re buying.

ZALORA, is a one stop destination for fashion and footwear. Bringing consumers an insight on global trends, they source the best that Malaysia fashion has to offer as well as all their favorite international designers.

By Lolita A. Alford

TowerBrook Capital Snatches Up Kaporal Jeans

admin — Wed, 22 May 2013 18:05:16 +0000

Over the years, denim has been a hot commodity in the apparel business and a staple piece in almost every consumer’s wardrobe. Denim is here to stay and will only get better, and investors agree.

According to Women’s Wear Daily, TowerBrook Capital Partners recently announced acquiring a large chunk of the French lifestyle brand, Kaporal Jeans. TowerBrook has been in talks with Laurent Emsellem, the brand’s founder and majority owner, since mid-2012, and agreed that Emsellem would remain an investor in the brand and a board member. Recently, TowerBrook Capital Partners acquire brand True Religion.

Founded in 2003, Kaporal stands for adventure, nature and the desire to travel, with a touch of Wild West and Rock combination. The unique vintage clothing combines elegant trendy fashion with sporty accents. Expanding from denim to a wide range of vintage-influenced sportswear for women, men and children, the brand ranks number one when it comes to independent style. Many international film and sport stars have been spotted wearing the exclusive styles designed by Kaporal.

Last year, Kaporal posted revenues of $142.6 million, deriving 70% of its revenues from wholesale, while operating about 50 stores in France, which is its largest market.

Last year, the TowerBrook named Santiago Cuchy, who previously help executive posts at Quiksilver, Tommy Hilfiger and Marc Jacobs Europe, as new chief executive officer. Earlier this month, the firm has also acquired True Religion Apparel Inc. valuing at $835 million.

By Pia Talwar

Brightpearl Racks Up $8 Million in Series B Funding

admin — Wed, 22 May 2013 16:05:54 +0000

Cloud software platform, Brightpearl, recently announced raising $8 million in Series B financing co-led by seed investors Eden Ventures and Notion Capital. They plan to use the funding to invest in continued enhancements to its industry-leading Commerce Acceleration Platform, and to expand sales in North America and the UK.

“Brightpearl has an exciting opportunity to be a market leader in the small to medium-sized market, where significant customer pain is addressed by Brightpearl’s product,” said Chris Tottman, co-founder of Notion Capital and a director of Brightpearl. “Brightpearl is now well funded, building a world-class team, driving the product forward and rapidly expanding brand awareness.”

Brightpearl integrates orders, inventory and customer data across multiple retail channels, allowing them to grow their businesses. With Brightpearl’s Commerce Acceleration platform, multi-channel retailers such as eBay, Shopify and Amazon can be confident their core data and processes are under control, saving time, money and creating a reliable foundation to rapid growth.

“We believe Commerce Acceleration software for small to medium businesses is amulti-billion dollar global opportunity,” said Charles Grimsdale, Eden Ventures co-founder and director of Brightpearl. “Brightpearl dominates this market with the ideal combination of technology, team and traction. We’ve seen customers experience growth rates of 40%-50% by adding new sales channels on the Brightpearl platform vs. single-digit growth for the overall retail sector.”

The company also expanded their Senior Management team with Andy Young as chief marketing officer, and Adam Smith as senior vice president of finance and operations. Young joined the team in early 2013 after leading marketing for Inuti’s Turbo Tax brand, and being a key member of the management team increasing Turbo Tax revenues by 40% in just three years. He was also the vice president of web marketing for Adobe Systems, and chief marketing officer for Shutterfly with a B.A. in Economics from the University of Virginia and an M.B.A. from the Wharton School, University of Pennsylvania.

“I’ve had the good fortune to help build some of the world’s leading brands,” said Andy Young. “Brightpearl has all the ingredients to build a multi-billion dollar brand; and I’m excited to help make our vision a reality.”

With over 25 years of experience in retail, direct channels and e-commerce, in the US, Asia and Europe, Smith holds a B.S. from the London School of Economics and is a qualified treasurer and qualified chartered accountant with Arthur Andersen. He was e-commerce Development Director for Dixons Stores Group, helping to lead the team that took Sit-up Limited from startup to $400 million sales in just five years.

“I was originally drawn to Brightpearl while working for a retailer experiencing all of the headaches of rapid growth in multiple channels,” said Adam Smith. “Now, I look forward to contributing to Brightpearl’s meteoric growth and success in attracting retail customers in an enormous and dynamic market.”

By Lolita A. Alford

Luxury Flash Sale Site, Reebonz, Receives $40 M in Funding

Samara — Wed, 22 May 2013 14:05:51 +0000

Gilt has a new competitor. Reebonz, a discount luxury flash-sale site based in Singapore has received an astounding $40 Million in funding. The company, founded in 2009, brings luxury goods to consumers with up to 70% discounts. Reebonz is a popular company in Asia, with a strong consumer base and an even stronger designer good range. It offers flash sales on brands such as Fendi, Prada, Givenchy, Burberry, and more. The recent funding puts the eCommerce’s sites value to around $200 million.

The $40 Million in funding was led by Singapore company, MediaCorp and included investments from Intel Capital, Matrix Partners China, Infocomm Investments, Vertex Asia Investments, and GGV Capital. The investments will be put towards growth and expansion. Reebonz is planning to grow internationally and build the company to the top.

Registration for Reebonz is fee, but sales are only offered to members. The site offers top designer brands apparel for both men and women, and also offers a wide range of accessories including handbags, shoes, and jewelry. Reebonz offices are located throughout the globe in Indonesia, Thailand, Taiwan, Hong Kong, Korea, Shanghai, and Malaysia.

With the numeric value of the company, Reebonz has a big future ahead. The company could very well be considered the Gilt Group of Asia, but it soon hopes to expand and bring its services and designer sales to the rest of the world.

Reebonz was founded by Benjamin Han, Daniel Lim, and Samuel Lim. The founders all have background in startups and technology based businesses.

By Samara Freschman

FreshNeck Makes Bold Move and Acquires Competitor TieTry

admin — Tue, 21 May 2013 20:54:10 +0000

Finding the perfect tie for every occasion can be difficult for men. Luckily, this is no longer the problem. Renting ties has become all the rage and the competition amongst companies who offer this has become fierce! So how can you slow down the competition? Acquire them!

FreshNeck, a revolutionary tie rental service based out of New York City has acquired industry competitor, TieTry.

Over the past year FreshNeck has gained great traction and built a solid member base. Their most recent move was the acquisition of TieTry. First seen on the ABC show Shark Tank, TieTry has played a significant role in the online fashion revolution. This acquisition allows FreshNeck to raise the bar and provide excellent customer service and products to hundreds of new members. Their inventory has significantly increased in size, providing members with exclusive access to over 1,700 ties, bow ties, pocket squares, cufflinks, tie-bars and lapel flowers. All TieTry members are welcomed into the FreshNeck family and eligible to upgrade their accounts for new plan options.

A couple of months back, we were intrigued by FreshNeck and had a chance to conduct an exclusive interview with co-founder David Goldberg.

The fashion industry is one that is ever changing and leaves no time for rest. A strong understanding of this is key to success, and is something that David Goldberg, Co-Owner of FreshNeck certainly realizes.” Being in the fashion industry is exciting and keeps you on your toes. As trends change, so do our products. Now we have the ability to cater to thousands of new and potential members.“

Founded in 2012 by David and Bryan Goldberg, FreshNeck provides men the chance to experiment with the best of men’s accessories. This subscription-based service allows users to choose ties, bow ties, pocket squares and cufflinks from top fashion couturiers such as Hermes, Prada and Gucci as well as up & coming designers. Members wear each product for as long as they want and send it back in a pre-paid envelope when they’re ready to receive the next item in their queue. It has often been referred to as the “Netflix for Ties.”

By Lolita A. Alford

Waitt Co. Acquires Golfwear, Bobby Jones

admin — Tue, 21 May 2013 18:05:35 +0000

According to Women’s Wear Daily, golfwear company, Bobby Jones is switching sides. Omaha-based firm, Waitt Co. has agreed to acquire the business from W Diamond Group Corp. , a New York-based company owned my Doug Williams. The agreement gives Waitt a long-term license for the exclusive use of the brand globally for apparel, gold equipment and related products.

Waitt Co., has controlled ownership of sports brands such as Prince, Ektelon, Battle Sports and Viking, and also acquired luxury labels such as Judith Leiber, Adrienne Vittadini and Taryn Rose in April. Founded by Norm Waitt, Jr., the company invests directly in private and public companies and indirectly through public and alternative investment managers.

Waitt Company will operate Bobby Jones under a newly-formed affiliate, Jones Global Sports, assuming all global operations. Andy Bell, President of Bobby Jones, will be promoted to CEO of Jones Global Sports and Doug Williams, who previously led the brand, will join the board.

Williams said that he was attracted to the way Waitt approaches brands and their commitment to the people “connected to building and protecting the value of a premium brand.” After several meetings with Dana Bradford, CEO of Waitt, Williams felt that their resources was a right fit for Bobby Jones brand, the Jones family and the legacy of Bobby Jones himself.

By Pia Talwar

E.Land and K-Swiss Inc. Snaps Up OTZ Shoes in its Latest Acquisition

admin — Tue, 21 May 2013 16:00:11 +0000

E.Land World Limited and K-Swiss Inc., owner of the K-Swiss and Palladium brands, announced today the strategic acquisition of Malibu, California-based contemporary comfort footwear brand OTZ Shoes Inc. Under the agreement, OTZ Shoes will continue to operate as an independent subsidiary of K-Swiss Inc., with key executives remaining in place. The acquisition marks the first addition to the K-Swiss Inc. company portfolio since the completion of its April 30 merger with E.Land.

Founded in 2009 by sneaker industry veteran Ludo Malmoux and partner Skip Murgatroyd , OTZ Shoes promotes health and sustainability and is bringing modern style and creativity to the comfort category. The brand is modeled on the oldest shoe ever found on Oetzi, the prehistoric iceman found frozen in the Otzal Alps in 1991. Since its inception, OTZ Shoes has grown 300 percent year-over-year and is currently distributed in 23 countries worldwide.

“OTZ Shoes has done a tremendous job establishing distinction and elevating the bar in the comfort market,” said Larry Remington , president and CEO of K-Swiss Inc. “We believe that with our resources and infrastructure, we can help the brand dominate the contemporary comfort category and realize its global potential. The brand will be a key addition for us, helping us build a portfolio of globally-relevant brands across a number of categories.”

OTZ Shoes will continue to be led by CEO Bob Rief , President and Creative Director Ludo Malmoux and Co-Founder Skip Murgatroyd , who will support legal counsel. Malmoux will remain a minority stakeholder in the brand. The OTZ Shoes executive team will report to Remington and K-Swiss Inc. CMO Barney Waters in support of the brand’s growth initiatives.

“This alliance will prove to bring great value to our operations and help shore up some of the rapid growth challenges we’ve had as a business,” commented Rief. “E.Land and K-Swiss Inc. have a very progressive plan for the future and we look forward to working with them as they continue to build momentum for the brand.”

By Lolita A. Alford

Viss App Receives Seed Funding From Clive Ng and Christian Remrod

admin — Tue, 21 May 2013 13:50:50 +0000

Earlier this year, we reported that Hong Kong-based mobile app, Viss, upgraded to its latest new function, “Shop the look” for its iOS and Android applications. Now, according to TechinAsia, the social fashion and commerce platform takes the next step to success, receiving a round of strategic seed funding from Clive Ng and Christian Remrod through their company 8 Plus Holding.

Viss app is a great way to inspire, discover, and shop different looks everyday. With a record of 2.8 million visitors a month, users can simply snap, tag and shop photos of their favorite styles, people and trends. They can also shop the styles they see directly in the app, interact with other style influencers and be influential. The app has also grown by over 400% receiving 18 million monthly page views to date as opposed to 600,000 visitors and 3.5 million monthly page views since January.

Cliv Ng is the chairman and founder of AsiaContent, MTV Japan, China Cablecom, and Fashion Networks International. Christian Remrod is the managing director of Fairchild Fashion Media (Conde Nast Group) and the founder of Fashion Networks.

With the new funding, Ivy Wong, founder at Viss, plans to work with brands engagement and, and commerce, as well as expand geographically to establish global commerce and media partnerships.

By Pia Talwar

140 More Years of Blue Jeans in the Making

Victoria — Mon, 20 May 2013 20:10:32 +0000

On May 20th, 1873 Levi Strauss and Jacob Davis finally received a patent to put copper rivet fasteners for buttons on their denim pants. Ever since that day the word blue jeans has been around and has never gone out of style. Even after 140 years later, the blue jean has gone from rugged to a fashion staple. Almost everyone owns a pair of blue jeans and they can be worn for any occasion. Consumers often are looking for the next new variation of blue jeans, however they enjoy the continual use of cotton in their jeans.

A few years back when cotton became expensive, many manufacturers began to look for and use cheaper alternatives. Sometimes when manufacturers change a fabric that is similar, it often goes unnoticed, but with blue jeans it did not. Kim Kitchings, Vice President of Corporate Strategy and Program Metrics at Cotton Incorporated said “Consumers noticed and they didn’t like it.” Their Lifestyle Monitor™ survey of consumer habits got these results from the use of manufacturers using cheaper alternatives:

“The majority of consumers (66%) told us that they were bothered that retailers and brands might be substituting synthetic fibers for cotton in their denim jeans. More than half (55%) of respondents actually said they would be willing to pay a slightly higher price to keep cotton in their denim jeans.”

However with this being said, as consumers continue to want more, manufacturer and brands want less especially when dealing with environmental concerns. ”Reducing environmental impact and manufacturing costs often go hand-in-hand,” says Mark Messura , Senior Vice President, Global Supply Chain Marketing at Cotton Incorporated. “Through collaborative projects with research organizations, universities and private companies, Cotton Incorporated has been able to identify and promote technical innovations that are helping the industry reduce the amount of chemicals, energy and water used in textile manufacturing. These reductions positively affect the corporate and environmental bottom lines for all categories, including denim.”

There have been tests to make denim more futuristic and innovative to a consumer. One dye-free process that was found is denim for digital printing. ”You can duplicate the look of pristine indigo-colored jeans, or distressed color variations, whiskering and other effects very realistically,” explains Mary Ankeny , Director of Dyeing and Finishing at Cotton Incorporated. “We’ve even used it to create 3-D jeans, where the creases and whiskers are visible using 3-D glasses.”

No one can say how denim will be in the future or how it might change but as the Lifestyle Monitor™ tells us 86% of consumers want it to be apart of their future.

Victoria Kirkpatrick

Marks & Spencer Revamps their Clothing to Create a Best of British Capsule

Victoria — Mon, 20 May 2013 18:10:43 +0000

Marks & Spencer has made a vow to put quality before quantity in their stores in order to revive them. They have done just that. They have released new men and women’s clothing and have added a best of british collection going back to their roots in the UK. Marks & Spencer has been a staple in the UK for years and has gotten harsh criticism when budgets need to be cut back and they go looking for cheaper alternatives rather than sticking to making things purely in the UK. That is why this new collection will be a huge hit and will greatly help people see Marks & Spencer in the same light again.

They have added plaid, beautiful and young dresses and skirts, and much more to their new collection and will make the store come alive again. The collection will fully be sourced and manufactured in the UK and will have about 100 pieces for both men and women. Some pieces will be Harris Tweed IPad and IPhone cases, Prince of Wales check men suits, and flannel dresses for women. Truly going back to their roots in British culture and fashion.

The collection will be very select and the prices will be about 20-25% higher than their other collections but I believe it is just what the brand needs. The collection will only be able to be purchased from 5 UK stores and a few flagship stores internationally in Paris and Shanghai. The collection will also be available online for those who cannot purchase from the select stores. Belinda Earl, the stores new style director also has said that the team is working on a spring collection as well which means this will not be a one time event for the store. This new collection also will mark the start of a three year partnership between the store and the British Fashion Council to help emphasize local design and talent in the UK. Overall, this new launch will greatly help the store and will help people once again see it as a true British brand.

By Victoria Kirkpatrick