FashionAndYou raises funding

E-commerce portal FashionAndYou has raised an additional round of funding from both new and existing investors. Founded in 2010 the portal has

distribution centers in Gurgaon. This flash sales e-commerce company offers 15 new daily sales wherein one can find marquee brands at attractive price points. The company recently announced it has crossed 5.5 million members, thus securing its position as a market leader within this space.

The new fund will be used to strengthen technology behind its inventory-light business model, acquire more customers to bolster its flash sale dominance and build a more cohesive brand. The dominant share of its business comes from women’s ethnic wear and fashion apparel categories followed by fashion accessories, footwear and home and living. Presently, women shoppers contribute to 70 percent of the business.

Since discounts on big brands are a big pull for people the company wants to have differentiated and curated quirky categories which are not found anywhere else. Till March 2015, its focus is on doubling business and working towards breaking even. It will expand differentiated supply in the key categories and further strengthen international alliances.