JustFab to target Asia after Series C funding raises $40m
Fashion subscription company JustFab Inc. has raised $40 million in Series C funding led by Hong Kong-based Shining Capital Management. The added capital will be used to increase product range and to push further internationally.
"We are excited to have Shining Capital join us as a new international partner who can offer expertise and insight into new opportunities in Asia and other parts of the world as we examine the potential for new markets," said Don Ressler, JustFab Inc. co-CEO.
Within the past year, JustFab expanded its reach to cover Germany, the United Kingdom, France and Spain thanks to a series of acquisitions in Europe. The company has already garnered over 3 million members on the continent.
"JustFab is experiencing unprecedented growth worldwide," said Adam Goldenberg, JustFab Inc. co-CEO. "We are adding over 400,000 new members every month in Europe, proving that our value proposition and subscription model resonates with shoppers all over the world."
Earlier this month, Just-Fab became the first subscription based e-commerce company to move into brick-and-mortar retailing with the opening of a flagship store in Los Angeles, where customers are invited to come and see the quality and finish of JustFab items for themselves.
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