Thailand-based fashion marketplace company WearYouWant announced today that it has received an undisclosed amount in a Series B round led by publicly listed Japanese e-commerce firm Start Today Co. Ltd.
According to an official statement, other investors that participated in this round include Kimura Shinji, Founder and former CEO, Gunosy Inc, OPT SEA and Digital Media Partners.
In August 2014, WearYouWant secured a Series A investment round of US$1.5 million led by Digital Media Partners.
Julien Chalté, Co-founder and Co-CEO, WearYouWant, said that the four-year-old e-commerce company has matured to the point where a partnership with a large corporation such as Start Today makes sense.
Aside from the financing, WearYouWant will stand to benefit from Start Today’s “extensive operating knowledge and network for marketing and sourcing of products”, added Chalté.
In return, through its investment in WearYouWant, Start Today will gain access to Thailand’s thriving e-commerce space – one of the most lucrative markets in Southeast Asia.
“Both our businesses are built on the same foundation and we are strategically aligned on many fronts,” said Koji Yanagisawa, CFO, Start Today.
The company owns ZOZOTOWN, a digital marketplace for fashion in Japan, and WEAR, a mobile application specialising in fashion in Japan as well.
“We will be following WearYouWant closely on their journey to grow their business in Thailand,” he added. “Especially their growth and innovation on mobile – the mobile penetration in Thailand is remarkable in this region and we look forward to adding strategic value in this regard.”
The country is also home to many other e-commerce players – from Rakuten-owned marketplace Tarad to Rocket Internet’s Lazada and Zalora.
WearYouWant’s portfolio includes local and international brands such as Aldo, GUESS and J Runway.
“There are more global brands that are waiting to come on-board with their entire collections,” concluded Martin Toft Sørensen, Co-founder and Co-CEO, WearYouWant.
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