The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Robinsons Retail Holdings’ investment arm New Day Ventures, Alibaba International Digital Commerce Group and existing investor Insignia Ventures Partners participated in a second Series A round to fund the multi-brand retailer’s regional expansion.
Launched in 2012, Konvy retails about 20,000 beauty products from more than 1000 global and local brands, including Estée Lauder, La Roche-Posay, Shiseido and Eucerin.
“After Thailand, the Philippines is the next port of entry for mass adoption of beauty products and remains a trendsetter in the industry with their young and digitally savvy population,” said Chinese entrepreneur QingGui Huang, co-founder and chief executive of Bangkok-based Konvy.
Konvy’s initial Series A round in 2022 raised $10 million from Insignia Ventures Partners.
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Sino-Thai Beauty Brand Mistine Raises $31 million in Series A Funding
The 34-year-old brand was founded by Amornthep Derojanawong in Thailand, but entered the Chinese beauty market in 2016 and is now headquartered in Shenzhen.
Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.