Fashion Cloud raises 25 million euros
Fashion Cloud, a B2B data startup, has raised 25 million euros in growth capital. The German company wants to use the new capital injection for product development. In addition, Fashion Cloud wants to accelerate its international expansion.
Fashion Cloud was founded in 2015 in Germany. The company offers a platform for fashion brands and retailers where they can exchange data as well as order products.
Product development and international expansion
The fashion data portal has raised 25 million euros in growth capital. Fashion Cloud will use the funds for further product development, such as automated reorder suggestions for stock optimization. The startup will also enable brands to share sustainability information in the future, such as certifications.
Fashion Cloud will accelerate international expansion.
In addition, Fashion Cloud wants to accelerate its international expansion efforts ‘so that brands and retailers can work together seamlessly all over the world’.
Over 600 brands and 20.000 retailers
According to the company, wholesale accounts for 40 percent of Europe’s 500 billion euros fashion industry. Fashion Cloud aims to satisfy a growing demand for just-in-time supply chains and new, trendy garments.
Europe’s fashion industry is worth 500 billion euros.
Currently, over 600 fashion brands have connected to its platform. Moreover, around 20.000 retailers have joined the service to order from brands like Hugo Boss and Scotch & Soda.
‘Brands and retailers want to work together more effectively’
“Brands and retailers want to be able to work together more easily and effectively”, says Fashion Cloud’s co-founder Alies ter Kuile. “This investment enables Fashion Cloud to take the collaboration between stakeholders to the next level.”