Pomelo to get more cash injection
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Thai retail powerhouse Central Group has joined the series-B funding round of international online fashion company Pomelo, based in Bangkok.
Along with Start Today Ventures, it joins JD.com, Lombard Private Equity and Provident Capital Partners in the capital raise.
Start Today Ventures specialises in fashion business investments that use digital innovation and information technology, and is supported by Start Today which runs Japanese fashion e-commerce venture Zozotown.
“We are pleased to have Central Group and Start Today Ventures join us in building the first global fast-fashion brand out of Southeast Asia,” says Pomelo CEO David Jou. “This investment gives us further capital to continue to push our business forward.”
“We believe Pomelo and its team is best positioned to capitalise on the growing fashion-conscious middle class in Southeast Asia,” says Start Today Ventures general partner Reina Nakamura. “The company has established unique assets that distinguish it amid heating competition – a combination of data-driven business throughout a value chain that is competitive at a global scale, with an innovative interpretation of multi-channel (O2O) and an in-depth understanding of its customers across core markets in Southeast Asia.”
The extra capital raised will help the company continue to expand its product assortment, open innovative retail stores and continue moving into other markets.
Questions & Answers
Q.Which companies are providing funding to Pomelo in this round?
Which companies are providing funding to Pomelo in this round?
Central Group and Start Today Ventures have joined the series-B funding round. They are investing alongside JD.com, Lombard Private Equity and Provident Capital Partners to support Pomelo's growth.
Q.What is the purpose of this new capital for Pomelo?
What is the purpose of this new capital for Pomelo?
The additional investment will enable Pomelo to expand its product range, open new retail stores, and continue its move into other markets. It aims to further push the business forward.
Q.Why did Start Today Ventures decide to invest in Pomelo?
Why did Start Today Ventures decide to invest in Pomelo?
Start Today Ventures believes Pomelo is well-placed to use the rising fashion-conscious middle class in Southeast Asia. They note Pomelo's data-driven business model, innovative multi-channel approach, and deep customer understanding.
Q.What is Pomelo's primary ambition for its brand?
What is Pomelo's primary ambition for its brand?
Pomelo's CEO, David Jou, states that the company's aim is to build the first global fast-fashion brand originating from Southeast Asia. This investment provides further capital to achieve that goal.
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