- MAP Asia Pacific Ltd
Has Covid-19 changed fashion buying for good?
Big funding announcements have slowed down over the past 12 months, especially in the fashion space — understandably. Gone are the days when it felt like some e-commerce startup was announcing a multimillion-dollar round every week. The few companies that have received large injections of cash since March of 2020, though, are worth looking at.
First off, they're all digital. And they include StockX, Rent the Runway, Fashionphile, Vestiaire Collective and, most recently, Nuorder.
Despite not being particularly well-known outside of the industry, that last one just announced that it raised $45 million to expand its B2B digital buying platform, in a round co-led by Natalie Massenet's Imaginary Ventures. Massenet, who also founded Net-a-Porter, will join Nuorder as a board member and strategic partner, helping the company drive European growth, as well as expand further into fashion and luxury.
"I have seen firsthand how slowly the fashion and retail industry adapts to change without a tipping point, and this past year has been another critical inflection point for many," she said, in a statement. "There has been much focus over the last few decades on the consumer end of retail, but little advancement in the ways the industry operates behind the scenes."
Read More at https://fashionista.com/2021/03/fashion-wholesale-buying-digital-tools-pandemic