Online fashion label Love Bonito raises $13m from Japanese shopping site Kakaku

Love Bonito co-founder Rachel Lim / Photo credit: Love Bonito

Singapore online fashion label Love Bonito has raised US$13 million in a series B round led by Japanese comparison shopping site Kakaku. Existing investor NSI Ventures joined the round.

It claims to have more than doubled its revenue since 2016. It adds that it has achieved the following:

• Average customer makes over four purchases a year
• Average sell-through rate (inventory that is actually sold) of over 70 percent within one month
• Marketing spend is below 10 percent of revenue
• Delivered over half a million packages in 2017

The startup has 80 employees and an online and retail presence in Malaysia, Singapore, Indonesia, and Cambodia.

We’ll update this story as we get more details.

This post Online fashion label Love Bonito raises $13m from Japanese shopping site Kakaku appeared first on Tech in Asia.

from Tech in Asia https://www.techinasia.com/online-fashion-label-love-bonito-raises-13m-japanese-shopping-site-kakaku
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