Ex-Alibaba director raises $3.2 million for his fashion startup in just five months of launch
19 March 2019 12:00 AM IST
Former Alibaba director Eddie Deng and data science executive at Club Factory and Google Chi Xue's fashion startup Mayfair has raised funding from tier one investors in India and China -- Nexus Venture Partners and CDH Investments.
- We have faith in Mayfair team to strengthen its supply chain, expand product offerings and further improve fulfilment experiences to its customers after fundraising,” said Damien Zhang, Vice President, CDH Investments in a company statement.
- In just five months (launched in October 2018), Mayfair has managed to raise that much amount.
- Moreover, with established players like Myntra, fashion is a tried-and-tested model that works particularly for youngsters given India’s young demographics, said Raisinghani.
- Mayfair will deploy the capital towards boosting its procurement and operations as well as hiring.
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