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A European B2B marketplace for fashion wholesalers and retailers — Fashion Cloud — has raised significant new funds to grow globally.
Fashion Cloud is based in Hamburg, Germany. It’s a B2B marketplace with a base of 20,000 mostly European retailers and wholesalers. Fashion Cloud has raised 25.5 million Euros (or about 26 million USD) from Verdane, a European investment firm.
Fashion Cloud expanding
The company will use the money to continue to expand internationally, including in North America.
“The new capital will be used to further develop established features like ‘content’ and ‘order,’ which allow retailers to access marketing material and product data from more than 600 brands while also ordering articles with one click in the supplier’s brand shops,” the company says. “Furthermore, Fashion Cloud will develop innovative products and build out its automated reorder suggestions (‘Smart Replenishment’), which ensures that stores have the accurate amount and the appropriate type of articles at any given time.”
Fashion Cloud says it now has more than 20,000 retailers and 600 brands using its platform. Customers include international retailers and brands like Zalando, Magasin du Nord, Hugo Boss and Scotch & Soda.
“Brands and retailers want to be able to work together more easily and effectively,” says co-founder Alies ter Kuile. “This investment enables Fashion Cloud to take the collaboration between stakeholders to the next level.”
Fashion Cloud says its marketplace platform enables brands and retailers to share marketing material and product data. Meanwhile, they’ll also be able to optimize wholesale order and inventory management.
“With strong partners on our side, we will ensure the transformation of the fashion wholesale industry towards a more efficient and sustainable one,” ter Kuile says.
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