fashion | Pixr8 News

20Apr By PriyankaNo Comments

FUNDING

Mobile Fashion App Fashalot Raises Funding From YourNest & Others

Location-based mobile fashion platform Fashalot has received Series-A strategic funding led by YourNest Angel Fund and marquee investor Rahul Garg for an undisclosed amount. The company said it will invest the fund in product development, top talent and accelerating its business growth. Operational in Delhi-NCR and Bengaluru, the brand aims to aggressively ramp up operations in new cities by the end of this year, it said in a statement. "We are on track to be the largest online-to-offline location-based fashion discovery network in India and the capital raised will contribute significantly for us to achieve this goal," Amit Koshal Founder and CEO of Fashalot said. The startup connects shoppers with offline stores through its horizontal network effect platform. It claims to have ...

Jabong Narrows Down Gross Loss to 46.7 cr in 2015

Online lifestyle retailer Jabong has narrowed down its gross loss to Rs 46.7 crore for 2015 on the back of lower level of discounts. The gross loss of the company stood at Rs 159.5 crore in 2014, the company's parent Rocket Internet said in an investor presentation today. The company's net revenue rose 7.1 per cent to Rs 869.1 crore for the reported year compared with Rs 811.4 crore in 2014. "Gross profit margin improved by 14 pp (percentage point) driven by lower level of discounts," the company said. For the fourth quarter of 2015, the companys gross loss declined to Rs 1.9 crore as against Rs 45.9 crore in the same quarter last year. "The increased focus on gross profit margin, unit economics and overall profitability resulted in net revenue and GMV decline in Q4 ...

Yepme.com, an Online Fashion Brand Opened First Store in Gurgaon

New Delhi: Yepme.com, India's biggest online fashion brand brings online shopping experience on to the offline space. With its first store opened on 14th Jan’2016 at DT City Centre Mall, Gurgaon, Yepme moves to brick and mortar retailing. Vivek Gaur, CEO and Co-founder Yepme.com, said “The brand is taking a step to get closer to our customer, as customers can now experience the touch & feel of the product and the diverse range of the fresh fashion collection for both men and women. They can also try their best fit to make an intelligent purchase online or at the store. We are excited to see the response at the store and take customer interaction to the next level.” The store aims to develop a connection between its customers and the retail brand, its products and brand culture. Custo...