Israeli company Syte.ai, which has developed an AI visual search platform for fashion items, has raised $8 million in Series A financing. The round was led by NHN Ventures, with participation from Naver Corp., Line Corp., Magma VC, Remagine VC, KDC Ventures and NBM Ventures.
Brightfolk, the fashion firm owned by Danish entrepreneur Anders Holch Povlsen has invested in Swedish ecommerce company Klarna. Povlsen is also the owner of Bestseller, whose brands include Jack & Jones and Vero Moda, and is an investor in ASOS and Zalando. The terms of his investment in Klarna were not disclosed but Reuters reports […]
Belgian online fashion store Suitcase has been acquired by fashion house FNG. No terms for the deal were disclosed. FNG had previously focused on women’s and children’s clothing while Suitcase specialises in menswear with a “curated shopping model” that the company intends to build on. FNG said the acquisition was a strategic step in a […]
Global Fashion Group, the Rocket Internet-backed fashion ecommerce business, saw its net revenue cross the €1 billion mark in 2016 with sales up 26% from 2015. That’s according to the Luxembourg company’s financial report for 2016 released last week. The company is still in the negative but managed to improve its EBITDA margins for 2016 […]
Israeli ecommerce site Brayola, an online bra store, has raised $5 million. The investment was led by the Firstime fund, which contributed $4 million. Also participating in the round were Gett founders Shahar Waiser and Roi More, and Kidbox founder Haim Dabah. Ilan Shiloah, a manager of the Firstime fund, will become the new chairman of the board.
After announcing that its 2016 sales were up 22%, the fashion and beauty ecommerce website Showroomprivé announced that it will acquire the beauty ecommerce site Beauté Privée. The deal is expected to be completed by the end of the first quarter.
German men’s online fashion ecommerce company Curated Shopping Group, which operates MODOMOTO and The Cloakroom, has raised its first round of funding of €6 million from Auden AG. The company, which has eschewed funding up until this point, has 250 employees and 400,000 customers it said, boosted by the acquisition of Dutch competitor The Cloakroom […]