Hamburg-based Fashion Cloud, whose B2B data and content exchange portal is used by ~20K fashion retailers, raised €25M led by Verdane — Around 20,000 fashion retailers already use FashionCloud’s B2B data exchange to receive timely updates on stock and marketing from wholesale fashion brands and other suppliers.
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FashionCloud, a Hamburg-based B2B data and content exchange portal for fashion wholesalers and retailers, has raised €25 million of investment.
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The round is led by the pan-European growth investor Verdane with further participation from FashionCloud’s existing investors, including the Danish investor HEARTLAND.
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Fashion wholesalers are responsible for delivering pre-made garments and fabrics to retailers.
Recent trends like just-in-time supply chains have poured pressure on wholesaler networks, which must maximise their ability to replenish retail stock efficiently to satisfy demand for new and popular garments.
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According to Fashion Cloud the wholesale sector accounts for around 40% of Europe’s €500 billion fashion market.
Fragmented, ineffective wholesale networks prevent the industry from realising its full potential, the startup says.
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At the moment, more than 600 fashion brands provide marketing and product data through its smart stock replenishment platform, helping to harmonise ordering schedules and advertising bulletins.
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Some 20,000 retailers have signed up to access stock from leading fashion brands like Hugo Boss, Scotch & Soda and Magasin du Nord.
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Fashion Cloud is now looking to expand internationally in a bid to “seamlessly” unite fashion ecosystems globally, with the help of Verdane’s scaling up expertise,
Alies ter Kuile, co-founder of Fashion Cloud, said: “Brands and retailers want to be able to work together more easily and effectively.
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“This investment enables Fashion Cloud to take the collaboration between stakeholders to the next level.
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“With strong partners on our side, we will ensure the transformation of the fashion wholesale industry towards a more efficient and sustainable one.“
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Björn Beckman, principal at Verdane, added “Fashion Cloud helps fashion brands and retailers to save time, money and resources.
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“Their impressive growth and customer retention demonstrates just how well-loved the solution is by thousands of businesses.
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“Digitalisation of fashion wholesale is crucial for efficient collaboration and trade, and ultimately to make the industry more economically and environmentally sustainable.”