Fashion Cloud, a B2B data startup, has raised 25 million euros in growth capital. Fashion Cloud's innovative business model aims to provide businesses with a network of connections with 600 brands and 20,000 retailers from 85 countries globally.
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The German company wants to use the new capital injection for product development. In addition, Fashion Cloud intends to accelerate its international expansion.
Founded in 2015 in Germany, the company claims that it will use the funds for ‘further product development, such as automated reorder suggestions for stock optimization.’
The startup will also enable brands to share sustainability information in the future, such as certifications, and other content-related services, such as up-to-date and high-quality marketing material from each of its 600 brands, as well as product data directly from the supplier.
Also, Fashion Brands provides support for campaigns or integration into ERP systems, webshops, and other IT solutions.
According to the company, wholesale accounts for 40 percent of Europe’s 500 billion euros fashion industry. Fashion Cloud aims to satisfy a growing demand for just-in-time supply chains and new, trendy garments.
Fashion Cloud is betting on the mobile capabilities of its services with OrderWriter, a buying app for a direct overview of orders, budgets, and articles. Brands facilitate orders inside and outside the showroom by sharing their product catalog.
Alongside OrderWritter, the company is also releasing a secondary app named Clara, an app for shop assistants that solves any out-of-stock situations. Brands share current stock availabilities and thus enable direct reordering on the sales floor.
