Hong Kong online clothes retailer Grana raises $3.5m funding led by GGV

Hong Kong-based online clothing retailer Grana has raised $3.5 million in seed funding led by Golden Gate Ventures, (GGV) taking its total seed funding to $6 million.

MindWorks Ventures and Bluebell Group also participated in the round, Grana said in a release.

The additional funding will help Grana to continue its international growth and expansion. The company recently forayed into the US.

It currently ships to 14 countries, including Singapore, Canada, Germany and Italy.

Grana said, the new round of funding will play a key role in new product category launches such as leather goods, undergarments and active wear.

“The support is critical to our U.S. expansion, a priority market that already represents 20 per cent of our global sales. This new investment allows us to further disrupt the online clothing market and provide consumers with luxury-quality wardrobe essentials without the luxury price point,” said Luke Grana, CEO and co-founder of Grana.

Founded in 2014, Grana brands itself as an online-only retailer that sells luxury clothing at affordable prices. It claims to source fabrics from select areas including sourcing silk from China, cashmere from Monogolia as well as Peruvian pima cotton.

Although Grana customers can only place orders online, the company has adopted an offline-to-online approach by setting up a series of temporary pop-up stores in its markets.

The company also plans to use its newly-acquired funds to grow its team globally. At present, it has over 40 employees in Hong Kong and has recently hired an undisclosed number of staff in San Francisco.