Rock.in, an online store offering high-end international clothing, has raised an undisclosed amount in a funding round led by Partech International, with participation from 3 angels which are retail families of Europe. The funding was first reported by VCCircle.
The company intends to utilize the funding for setting up operations in India, bringing new brands to the platform and building a team; and for expanding logistics, customer care, editorial content, marketing and technology.
Rock.in, founded in May 2012 by Aashish Puri and Suraj Sharma, has obtained operational licenses from 120 international brands in the US and Europe including La Redoute, House of Dereon, Calvin Klein, DKNY, Marc Cain, FCUK, Fever London, Just Cavalli and more. The company claims that it has a monthly sale of Rs 50 lakh and more than half of its orders come from tier II & III cities. Currently, Rock.in employs a team of 40 and has plans to grow up to 75 by the end of this year. Currently based in Mumbai, Rock.in plans to set up offices in Delhi and Bangalore.
Features: The eStore, still in beta, requires users to login before they can place an order. Users can either sign-up by filling out registration form or log-in via Facebook connect. The portal retails high-end international clothing for men, women, children from brands such as La Redoute, DKNY, Calvin Klein, House of Dereon, among others. It also plans to add home products soon to its catalog.
Users can also create their wishlist and share them with their friends and family via Facebook, Twitter, Google+ and email. The portal also has an interesting “Look Book” feature where users can buy a celebrity (Bollywood & Hollywood) look by purchasing the products they are spotted wearing. The website also include tips and tricks with the look book. The company claims that it will keep adding special discounts for registered users.
Shipping and Payment: Rock.in accepts credit/debit card, Cash On delivery (COD) as a mode of payment. Currently, the portal offers free shipping on all of its products. The company also claims a 14 day money back guarantee. It delivers products from abroad within 10 days and 2-4 days from India.
Other players: The company competes with Myntra.com that also offers high end international brand in its catalog. Early this year, Myntra.com had raised $21 million,in a funding round led by Tiger Global. It also competes with Robemall Apparels Pvt Ltd run Zovi.com, a lifestyle apparel and accessory e-store. Zovi, recently, raised $10 million (~ Rs. 56 crore) in a series B round of funding from Tiger Global and SAIF Partners. Other players include Fashionara.com, which was launched earlier this year, Rocket Internet backed Jabong, in addition to Ambarish Murthy’s e-commerce startup Pepperfry which had raised $5 million from Norwest Venture Partners, and Smile Interactive’s Freecultr which raised $4 million from Sequoia Capital last year.