Thailand: Online fashion marketplace WearYouWant closes Series B funding from Sebrina Holdings

Image from WearYouWant.

Thailand’s leading online fashion marketplace WearYouWant has secured its final round of Series B funding from Singapore-based Sebrina Holdings for undisclosed amount.

Sebrina Holdings is a multi-asset class family office with a legacy of being mainly focused on oil and gas assets in Asia and the Middle East. Besides, it also invests in “extraordinary entrepreneurs and breakthrough ideas”.

“Joining WearYouWant is a good opportunity for us. It has shown steep growth in 2015 and the projections for 2016 are promising,” Raouf Kizilbash, director of Assets Group, Sebrina Holdings, said in the statement.

The four-year-old online marketplace’s revenue in 2015 rose 200 per cent from 2014, with a 150-per-cent surge in turnover generated by mobile devices. It projects a two-digit growth in 2016.

“The funding from Sebrina Holdings is testament to the solid reputation of WearYouWant as an established e-commerce business with great potential and a welcome investment following the company’s success in 2015,” Julien Chalté, Co-Founder & Co-CEO of WearYouWant.com, said.

“We will be focusing on becoming even stronger in our home market (Thailand). This will primarily be done via product development in cooperation with our merchants and our customers (B2C), via improvement of marketing efforts in terms of activity and fund allocation and via expanding our portfolio of B2B partners,” he told DEALSTREETASIA.

WearYouWant has very recently released its mobile app, which will be a very important tool in WearYouWant’s mobile efforts going forward.

“Half of the traffic of WearYouWant comes from mobile and one of the main focus points is our ability to convert that traffic better and in those efforts our app will become key,” he cited.

During 2016, the company plans to focus on building features into the app that embrace the business concept, involves merchants and benefits the users. One of the features is an image recognition engine that allows the user to take a photo of an item in a physical store and instantly be presented with a good offer on the same or similar style on the mobile, the co-founder explained.

Responding to the fashion e-commerce market this year, he said, “It is likely that more players will enter the market. However, it is becoming increasingly difficult as the consolidated ones are getting bigger by the minute because the market is growing rapidly. As the market is developing the way it is the big ones in the market is likely to see even steeper growth curves the previously in 2016.”

The Sebrina Holdings investment follows two previous series of funding.

WearYouWant had secured Series A amounting to $1.5 million in 2014 by Digital Media Partners, OPT SEA, IMJ Investment Partners and Julien Chalté. Later in 2015, it secured Series B funding for an undisclosed sum from leading Japanese digital fashion marketplace, Start Today, which operates Japan’s largest fashion e-commerce portal, Zozotown.

Also Read:

Thailand Dealbook: WearYouWant hits revenue target; iTrueMart taps Philippines market

Thai fashion e-marketplace WearYouWant secures undisclosed amount in Series B

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.