Online Fashion brand StalkBuyLove has raised an undisclosed amount of funding from Germany-based venture fund Littlerock, 500 Startups, Singularity Ventures and others.
Founded by Rocket Internet Alumni Tushar Ahluwalia, Nishrit Srivastva, Aashna Chopra and fashion expert Shikha Ahluwalia in 2013, StalkBuyLove is an online fashion brand that caters to young fashion-conscious women through its website and mobile app.
Vishal Harnal, Venture Partner at 500 Startups, said, “The core strength of the founding team is its envious combination of a AAA eCommerce background, best in class tech-competencies and an insiders’ pedigree in fashion & textile.”
Inspired by global brand Zara, Delhi-based StalkBuyLove combines strong fashion competence with proprietary, custom-made technologies for its unique sourcing and production strategy, which allows the company to own its entire value chain.
According to the founders, the fashion portal leverages on its supply structures to deliver a highly efficient supply model with realised gross margins of 70% and 12 full inventory turns a year. StalkBuyLove claims to have 8% month-over-month growth with a current gross-revenue run rate of $5 Mn.
The company will use the newly raised investment to accelerate its growth, invest into its talent base and strengthen its supply and fulfillment structures further.
StalkBuyLove.com builds on its technology to manage and control the entire production processes in real-time including the cutting and stitching of garments at scale by third-party production units.
Earlier this week, Sujal Shah led fashion content blog BandraRoad launched its online store. The online store will offer ‘Comfort Wear’ in quintessential styles for men and women, with shipping across India. Prior to this, last week, fashion app WithMe raised $250K funding from angel investors. Apart from ecommerce biggies like Flipkart, Snapdeal, Amazon, other players in the fashion retail segment include Voonik, Purplle, Roposo, etc.
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