wordpress blog stats
Connect with us

Hi, what are you looking for?

Fetise.com Raises $5 million From SeedFund

Fetise.com, a niche e-commerce site launched by Fetise Retail Pvt Ltd, has raised $5 million in its first round of funding from Seedfund. Fetise.com is an invitation-only luxury fashion portal which focuses on luxury brands for men and was launched in March 2011. It claims to offer apparel, watches, footwear and accessories from top luxury brands like Versace, D&G, Jil Sander, Dunhill and Ferrari at discounted prices, with discounts ranging up to 80% on retail prices.

In the past nine months, the company has reportedly handled 500 transactions per day at a revenue run-rate of Rs 2-2.5 crore per month and an average billing amount of Rs 1500, as reported by Economic Times.

It intends to use this funding to scale up its product range, overhaul its website and improve its supply chain and logistics, and its technology and marketing activities. In addition, Fetise also intends to open more warehouses in the next 6-12 months. The company currently has two warehouses.

Our Take: Fetise currently competes with online apparel players like Smile Interactive’s Freecutlr which recently raised $4 million from Sequoia capital, Times Internet Limited’s* HutK.com, ThePrivateSales, Exclusively.in, FashionAndYou, and the India Today group’s bagittoday, among others. However Fetise currently focusses only on luxury brands for men. Why don’t they diversify into women’s apparel as well, like the SAIF Partners backed Zovi.com which launched as men-only apparel brand and added women’s apparel late last year.

Nikhil adds: interesting to note SeedFund’s entry into the online retail space, given that the fund has so far stayed away, and SeedFund partner Mahesh Murthy has been rather vocal about an e-commerce bubble. Do read: Stop blowing our bubbles and Mahesh Murthy On E-com Bubble Bath Being Driven By ‘Topi’ Investors

Advertisement. Scroll to continue reading.

Note: This investment was announced on December 22, 2011 while we were on vacation.

*Disclosure: Indiatimes is an advertiser with MediaNama

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ