After launching the kid’s apparel section on the occasion of Children’s Day, FashionAndYou.com has raised $40 million from a group of investors led by Norwest Venture Partners and Intel Capital.
It was the third round of investment which also saw contribution from Sequoia Capital India and Nokia Growth Partners.
FashionAndYou.com raised its first round of funding during its inception from European and Indian private investors. Last December during the second round, it raised $8 million from Sequoia Capital India.
The company will use the funds for its growth initiatives, including acquisitions, starting new business categories, as well as accelerating its growth in existing categories and geographies. It will enable FashionAndyou.com to further speed up its member acquisition strategy and solidify the supply chain and distribution mechanism.
FashionAndYou.com is primarily a private sales website and a leader in the Indian Online Fashion & Luxury space. Launched in January 2010, FashionAndYou.com is amongst the top e-commerce companies in India. It is an invitation-only private sales club which partners with high end luxury brands across fashion apparel.
Since its foundation, FashionAndYou.com has been growing at a tremendous pace. FashionAndYou.com employs more than 450 people spread across offices and distribution centers in Gurgaon, Mumbai & Bangalore.
This investment is peddled to be the highest in the e-commerce space in India which signifies the growing interest of the investors’ community in this sector.
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