Home / Knowledge / News / Fashion / Luxury apparel etailer Grana raises $3.5 mn more
Luxury apparel etailer Grana raises $3.5 mn more
18
Feb '16
Hong Kong-based Grana (grana.com), an online clothing retailer creating luxury fabrics and wardrobe essentials at guilt-free prices, has announced securing an additional $3.5 million in seed funding.

The lead investor is Golden Gate Ventures, along with investments from MindWorks Ventures and Bluebell Group, bringing their total funding to date to $6 million, with additional Series A funding pending. Grana recently launched in the US market, and the additional funding will help the brand continue its international growth and expansion, the company said in a press release.

Grana claims it offers timeless wardrobe essentials created from fabrics found around the world, including Chinese Silk, Mongolian Cashmere, Irish Linen, Japanese Denim, Peruvian Pima Cotton, French Poplin, Chinese Cotton Twill, Italian Merino Wool and Japanese Chambray. Grana designs its merchandise in-house and works directly with fabric mills in order to bring the highest quality clothing to customers at the best possible prices.

Grana has grown extensively since its March 2014 beta launch, during which the brand sold 2,000 Peruvian Pima Cotton t-shirts in three weeks, shipping to eight countries directly from Hong Kong. Month-over-month sales are currently increasing by 40 per cent since Grana launched in October of 2014.

The new round of funding will expand Grana's shipping to new markets as well as aid the entry into the American and Chinese markets. The funds will play a critical role in new product category launches such as leather goods, undergarments and activewear.

“We're pleased to receive financial backing from Golden Gate Ventures and MindWorks Ventures,” said Luke Grana, CEO and co-founder of Grana. “The support is critical to our US expansion, a priority market that already represents 20 per cent of our global sales. This new investment allows us to further disrupt the online clothing market and provide consumers with luxury-quality wardrobe essentials without the luxury price point.”

Since its launch, Grana has brought a number of “Fitting Rooms” to consumers across Sydney, Singapore, and Hong Kong, and mostly recently opened a US location in San Francisco in December 2015.

Designed as a showroom instead of a retail shop, customers can experience the brand personality in the space, interact with Grana Cheetahs (customer service representatives), and discover the website. Retail showroom spaces are increasing in popularity, and Grana's Fitting Room model is helping to lead this global trend. The new funding will also allow Grana to open additional Fitting Room locations in the US and provide support for a technological upgrade to the shops, reinventing the way people buy clothes in-store.


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Headhonchos
Indian fashion industry

Organic the first choice of any environment-conscious person

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search