Luxury-fashion etailer My-Wardrobe.com has raised £6 million
($9 million) via an investment round led by Balderton Capital,
the fund behind DVD rental business LoveFilm and Italy-based
fashion etailer Yoox. The money will be used to extend
My-Wardrobe’s product offer, as well as fund its expansion into
international markets.
Launched in April 2006, My-Wardrobe.com reported a 93 percent
like-for-like increase in sales-from £4.3 million ($6.6
million) in the year to March 2009, to £8.3 million ($12.7
million) for the 12 months to March 2010. There has also been a
110 percent like-for-like growth in visitors to the site since
2009-from 2 million to 4.2 million, and a significant increase in
international traffic.
In an interview with Catalogue e-business, My-Wardrobe’s
founder and CEO Sarah Curran said that the business is seeing
heightened activity from Scandinavia and has already started
increasing marketing campaigns in France and Germany via PPC and
affiliates.
The business has its sights set on being the leading European
player in the “accessible luxury” market by 2015 and
to this end will accelerate its investment in offline, as well as
online, marketing channels to drive awareness and further
increase sales.
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