Fashion e-commerce services are among the fastest-growing online platforms at the moment. In Southeast Asia, there are various fashion e-commerces that are dominating the industry and which are predicted to reach unicorn status, which is given to e-commerce start-ups with valuations of more than US$1 billion. Aside from their valuations, these fashion e-commerce services also need funding to develop their businesses into wider and bigger operations. Here are four of these Southeast Asian fashion e-commerce sites that have received mega-funding.
Reebonz is a Singapore-based luxury fashion and lifestyle e-commerce that was founded in 2009. Visitors can buy new or used luxury products just by registering as a member. Consisting of 300 staff and operating in eight countries across Asia, Reebonz is known to have US$150 million fundings from investors including MediaCorp, Singapore’s media conglomerate.
Zilingo is Singapore-based fashion marketplace that allows smaller merchants from Southeast Asia to sell their products to consumers. Zilingo is predicted to reach unicorn status as it recently got a new round of funding from Sequoia India; the Singapore sovereign fund, Temasek; Germany’s Burda; and Sofina, all worth of US$226 million. Meanwhile, the founder of Zilingo, Ankiti Bose, is to be the first Indian woman who owns a potentially unicorn-status e-commerce start-up.
One of the most renowned online fashion services in Asia, Zalora is cementing its position as it just received huge amounts of funding. Zalora is available in 11 countries across the Asia-Pacific, including Indonesia, and the company has US$238 million in total funding from various investors around the world. This includes the US-based management firms Access industries and Scopia Capital.
This Indonesia-based fashion e-commerce services that was launched in 2015 sells various fashion products for both men and women Taken from website crunchbase.com, Matahari Mall is reported to have gained US$616 million in funding in three years from various companies like Lippo Group, Matahari department stores, and Japanese-based conglomerate, Mitsui & Co.