BWI: Fashion And You gets USD 8 Million from Sequoia Capital India

Press release from Business Wire India
Source: Fashion And You
Wednesday, December 08, 2010 02:37 PM IST (09:07 AM GMT)
Editors: General: Consumer interest, Fashion, People; Business: Advertising, PR & marketing, Banking & financial services, Business services, Clothing & accessories, Information technology, Retailers; Technology
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Fashion And You gets USD 8 Million from Sequoia Capital India


New Delhi, Delhi, India, Wednesday, December 08, 2010 -- (Business Wire India) -- Fashion and You, India's leading online private sales website today announced that Sequoia Capital has invested USD 8 Million in the company. This investment will go towards growing the company's product offering, strengthening its enterprise technology, expanding its distribution capacity and funding future growth initiatives.

Mr. Shailendra Singh, Managing Director, Sequoia Capital India, said "We are delighted to partner with the founders and management of Fashion and You, who have quickly built Fashion and you into the leading online retailer of premium fashion brands in India with over half a million members who are part of the private shopping club. We are confident that the company will strengthen its position as a frontrunner and continue to grow rapidly even as this space witnesses rapid growth."

Harish Bahl, Founder and Chairman, Fashion and You said, "Fashion and You was the third to start in its category & is now a clear market leader in Online Fashion Retail in India. The core strength of the organization has been the team and the partners that we have. We are overwhelmed by the response that we have got from our consumers and how our teams and partners have made this otherwise very complex to scale model, work so efficiently. With a premium partner like Sequoia now on board with us, we are even more confident of achieving our initial goal of being the sales platform for most high fashion brands in India contributing to at least 10% of their sales by end 2011."

Pearl Uppal, Co-founder and CEO, Fashion and You said, "Fashion and You offers its consumers and clients a pan-India marketing, retail and distribution platform for fashion and lifestyle brands. We believe we are creating a shopping revolution in India and the investment from Sequoia Capital gives us the tremendous impetus that we require right now to leap into a growth spiral. We have committed to deepening our partnership with brands in delivering a world-class direct to consumer marketing and distribution platform, helping brands build a pan national footprint."

Fashion and You launched its retail operations on January 15, 2010 and within 10 months of its launch, has established itself not only as India's #1 Online Fashion Retail Company but also amongst the top ecommerce companies in India.

In line with the growing emphasis on social commerce globally, brand Fashion and You's growth in India has largely been viral. Fashion and You's Facebook page is one of the leading Facebook pages in India with over 550,000 followers. For many fashion and lifestyle brands, Fashion and You has already become the largest retail avenue in India.

About Sequoia Capital

Sequoia Capital currently manages funds capitalized at close to US $1.8 billion and invests across venture, growth and late stage opportunities in India. It takes a long-term view on investments and plays the role of an active, value added partner to entrepreneurs, business families and management teams. Over the last 9 years, Sequoia Capital has invested in more than 50 Indian companies including Café Coffee Day, Comviva (Bharti Telesoft), Dr Lal Pathlabs, Firstsource, Quick heal, GVK Biosciences, Idea Cellular, Ind-Barath Power, Just Dial, Shaadi.com and SKS Microfinance. Sequoia Capital operates out of offices in Bangalore, Mumbai and New Delhi.

Globally, Sequoia Capital has an unparalleled track record of partnering with entrepreneurs to create global market leaders. Sequoia Capital has been an early investor in companies such as Google, Cisco, Yahoo, YouTube, Oracle, and Apple Computers. Sequoia Capital maintains dedicated teams in the US, China, India and Israel.

For more information, kindly visit: http://www.sequoiacap.com/india

About Fashion and You

Fashion and You is India's leading private sales website and a leader in the Indian Online Fashion & Luxury Industry. Fashion and You is an invitation-only private sales club, which partners with high fashion and luxury brands across fashion apparel, accessories, footwear, watches, jewellery, fragrances, home décor, and holds private sales events for these brands on www.fashionandyou.com. Membership to Fashion and You is by invitation only and members get access to coveted brands at prices up to 80% off retail. Since its inception in January 2010, Fashion and You has been growing at a tremendous pace.
Fashion and You is part of a Global Brand Alliance of Private Sales Clubs in 8 markets including Russia, Brazil, USA, Turkey, Middle East, Australia, Mexico and Switzerland. Fashion and You employs more than 150 people spread across offices in Gurgaon, Mumbai, Bangalore. Fashion and You is headquartered at Gurgaon, India and has its Order Processing Center and Warehouse in Delhi, India.

For more information, kindly visit:
http://www.fashionandyou.com or http://www.facebook.com/fashionandyou



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KEYWORDS
CONSUMER, FASHION, PEOPLE, MARKETING, BANKING, BUSINESS SERVICES, CLOTHING, IT, RETAIL, TECHNOLOGY

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