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.

 

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.