Online fashion retailer Yepme raises funds from Gokaldas

Fashion e-commerce firm Yepme has managed to raise funding from garment exporter Gokaldas Exports.

The firm will use the funds for the operations of its UK entity which deals in fashion products exclusively for international markets largely the US, Europe and the Middle East.

This deal will help Gokaldas get exposure to digital sales channels and online marketing tools.

Yepme joined e-commerce giant Amazon’s global selling program, in February, under which its fashion products will be sold in key European markets such as the UK, Germany, France, Italy and Spain.

Gurgaon based Yepme is a private brand label which fetches 30 to 40 per cent higher gross margins as against other online marketplaces that depend on branded apparel. This fashion e-commerce company which started operations in 2011 sells private labels under their brand name Yepme. They largely sell ethnic Indian and western wear for men and women.

Footwear contributed to 50 per cent of their total turnover during the fiscal 2015-16 followed by 34 per cent in accessories and 16 per cent of apparels and garments.

The company, which manufactures its own brand of products, is targeting sales revenue of Rs 280 crores this fiscal. Their software unit will be hived off into a separate entity since software is seen as a large business ensuring high margins.