YepMe, the online fashion retailer has raised USD 75 million in a funding led by Malaysia’s state fund Khazanah Nasional Berhad, states Reuters. It was also participated by Helion its existing investor.
The funding will be used towards brand building and launching of an ethnic India line ahead of the festive season (Diwali).
The Gurgaon based startup was launched in April 2011 by Vivek Gaur, Sandeep Sharma and Anand Jadhav who were three alumni of IIT and IIM. Its a online fashion brand which makes its own brand name clothes showcasing menswear and accessories featuring formal, casual, outdoor and party wear. It also focusses on selling apparels, watches, specs, footwear and other items.
YepMe consists of talented team of in-house designers from the top design institutes, operates on high agility to curate fresh and new designs on everyday basis. It’s team drives inspiration by real-time research and analytics on latest fashion trends running in the global fashion markets, keeps the online store exciting with fresh fashion merchandise showcased daily.
The main target customer for Yepme.com is tier 2 and tier 3 towns, where the big apparel brands do not have many retail stores. In late 2014, Yepme expanded and took its home-grown brand global. Yepme entered the US market with the launch of Yepmeworld.com and is also selling its products on Amazon in the US.
The brand targets style conscious men & women between the age of 20-29 years, in India. The company services over 1000 cities monthly and delivers about 500,000 products to its customers every month.
Yepme raised Series A investment from Helion Ventures Partners, an India-focused, early to mid-stage venture fund. In August 2012, Yepme had raised 9 million in total from Helion Venture Partners and a California-based investor.
The other players who compete in this field includes Jabong, Myntra, Fashion and You among others.