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Jordanian online apparel retailer attracts PE investment
May '12
MarkaVIP, a Jordanian online apparel retailer, has attracted US$ 10 million “Series B” investment from a group of investors led by Netherlands investment firm Prime Ventures.

MarkaVIP was established in November 2010 as an exclusive shopping community with a unique, invitation-only membership. It specializes in discounted clothing and offers apparels from brands like Calvin Klein, Ralph Lauren and Marc Jacobs through its website.

Al Khatib, founder and CEO of MarkaVIP, said the new investment would be utilized to further expand the company's operation and increase its market share in the region.

He informed that MarkaVIP already ships products to the GCC countries, besides serving customers from Jordan and Lebanon. He said the retail firm was planning to expand to Egypt.

With offices in Jeddah, Madrid and Los Angeles, MarkaVIP employees around 270 people at present.

Besides Prime Ventures, the US$ 10 million investment has participation from Antwerp-based Hummingbird Ventures, along with the two US-based existing investors Lumia Capital and Invus Financial Advisors.

Fibre2fashion News Desk - India

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