KUALA LUMPUR, Oct 18 (Bernama) -- JOOR, the digital wholesale ecosystem, has raised US$25 million in new funding led by Brightwood Capital and Tamarix Capital Partners, with participation from existing investors Macquarie Capital, Battery Ventures, and Canaan Partners. (US$1=RM4.74)
This additional raise will allow JOOR to deliver an increasingly enriched platform experience in service of its extensive global network of fashion brands and retailers.
Alongside new data-led initiatives, the company also plans to enhance its JOOR Pay solution, as well as expand its footprint in categories such as footwear, sports and outdoors.
In a statement, JOOR Chief Executive Officer, Kristin Savilia said the company has a proven track record of enabling growth for world class brands and retailers.
“Amidst a tough macroeconomic environment, we are thrilled that our investors recognise the value that JOOR’s solution provides and share our vision of accelerating the platform’s growth through additional innovation and enhanced platform capabilities,” she said.
Over the past decade, JOOR’s platform has evolved into the fashion industry’s most comprehensive wholesale management solution, enabling brands and buyers to connect, present collections, build assortments, place and manage orders, and process payments.
By digitalising the entire wholesale buying and selling process, the company allows brands and retailers to operate more efficiently and leverage data to optimise their business and inform decision making.
With more than 14,000 brands and 600,000 curated fashion buyers across 150 countries, JOOR’s platform hosts the world’s leading wholesale marketplace in the Luxury, Contemporary, Accessories, Footwear and Lifestyle verticals, processing nearly US$20 billion in wholesale transactions annually.
JOOR’s exclusive partners range from established luxury fashion houses including LVMH, Richemont and Tapestry, to leading brands such as Stella McCartney, Valentino, Kate Spade and Dr Martens, while premier department stores and global digital retailers conduct their buying exclusively through JOOR.
-- BERNAMA
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