Fashion

Early-stage VC fund IvyCap Venture earned USD 45.6 million after selling partial stakes in Purplle. It had invested USD 2 million in the company in 2015.

The five-year old consumer brand has manufacturing facilities across Germany, Italy, USA, and Korea, besides India, and sells its products globally.

Fashinza is expanding the network of manufacturers globally and is working with leading brands across 10 countries.

The company was listed in 2017 at USD 13 per ADS.

Chinese consumers are expected to account for 50% of the global luxury market by 2025. Second-hand luxury platforms have also sprung up in China to gain a slice of the market.

Farfetch claims to be the No. 1 global online luxury fashion platform with more than 1,200 sellers.

In the past decade, the company has raised around USD 900 million in capital.

Vetreska intends to open additional cat cafes in five different Chinese cities in 2021.