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Alibaba-led fund again invests in fashion etailer Grana
06
Oct '16
Courtesy: Grana
Courtesy: Grana
Jack Ma led Alibaba Group Holding Limited's not-for-profit initiative; Hong Kong Entrepreneurs Fund has again invested in Grana, an online fashion retailer, which offers genuine quality clothing created from quality fabrics, sourced from around the world. This is the second round of funding for Grana from the fund, which was set up in November 2015.

The Hong Kong Entrepreneurs Fund was established with a mandate to engage with the start-up community in Hong Kong and select companies that stand out in terms of innovation and unique value proposition for direct investment.

The fund in particular seeks those who would most benefit from the resources offered by Alibaba's ecosystem in ecommerce, logistics, mobile platforms, cloud computing and financial services.

“With the fund's investment, aspiring entrepreneurs from around the world can establish their foothold in Hong Kong and make use of the Alibaba platform to scale up their operations both in Hong Kong and in the world,” Alibaba stated.

“Our success is a testament to the amazing and talented in-house team, who have dedicated themselves to making quality products and creating a brand that drives so much word-of-mouth and online advocacy for us,” Grana founder Luke Grana said. “We are honoured to have Alibaba as a lead investor and the continued support from existing investors as strategic partners.” (AR)

Fibre2Fashion News Desk – India

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