Menlook raises 23 million euros
As a report by FashionMag Premium suggested last week, Grosman brothers Marc and Laurent, founders of the Célio ready-to-wear group, have taken a holding in the menswear e-commerce site Menlook.
This entry takes place in line with a larger context, a fundraiser led by the site that raised 23 million euros, with new financing coming from existing investors the Partech International, Orkos Capital and 123venture funds, as well as new stakeholders investment fund Idinvest Partners and BPI France.
Benoist and Marc Grosman, join Marc Ménasé, Philippe Collombel (Partner de Partech Ventures), Olivier Goy (123 Venture) and Dominique Rencurel (Orkos Capital) on the group's supervisory board.
The goal is to accelerate international development and the development of new services, such as the personal stylist service recently launched under the name Georges and the upcoming launch of a premium marketplace for male fashion, indicates the press release announcing the fundraiser.
In any case, it is a real acceleration that should drive the e-commerce site with this new fund. Menlook, created in 2010 by Marc Ménasé, saw rapid growth with revenue between 30 and 35 million euros this year. It is aiming at 100 million euros in 2017 (including the marketplace) and a balanced outcome within 24 months.
Menlook has announced it expects 17 million visits this year, more than 400,000 customers, more than 400 partner brands, an average shopping cart of 210 euros… and 120 nationalities among its customers. Menlook claims 60% of its revenue internationally.
The site has launched in six countries these last two years, namely Germany, Holland, Italy, Spain, the US and Singapore. In May 2013, it also acquired the British site oki-ni.com, a menswear pure-player. Menlook's goal is to continue increasing exports with a focus on two geographic zones: the United States and Asia.
Therefore, Menlook intends to continue forging its success in terms of services and operating mode. Hence the upcoming launch of the premium marketplace. "This service will complete the menlook.com offer and will notably be responsible for putting forth the brands and designers of tomorrow," highlights the release.
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