Darveys, Confidential Couture to raise funds and expand internationally

Fashion portals Darveys and Confidential Couture are looking at raising funds as well as eyeing international expansion. By the end of 2017, Darveys hopes to have over 1 lakh active members.

The funds will be used to scale up hiring, advertising, marketing to have more visibility and deeper penetration in metros, Tier I and Tier II for better customer care support and increased automation in the process.

Darveys is a member’s only fashion portal which was founded in 2014. It sells clothes and accessories from international brands such as Fendi, Jimmy Choo and Eremenegildo Zegna. The company broke even in December 2015 and is planning to cross the Rs 60 crores gross merchandise value mark in sales in the next financial year from India. Also, over the next quarter it is planning to add six new brands which are not available in the country. In addition, there are plans to launch kidswear, thus bringing 20 more designers who are not available in the country. Members on Darveys pay a one-time registration fee of Rs 1,000.

Confidential Couture was founded in 2014. It specialises in the purchase and sale of preowned designer accessories. From four-five sales transactions a week during its launch years, the company is averaging 10 transactions a day and has added six new designers since January 2016. It recently launched men’s accessories and watches. An app is under development at the moment as well as simpler payment options are being made.