Central Group puts money into Pomelo
Thai retail powerhouse Central Group has joined the series-B funding round of international online fashion company Pomelo, based in Bangkok.
Along with Start Today Ventures, it joins JD.com, Lombard Private Equity and Provident Capital Partners in the capital raise.
Start Today Ventures specialises in fashion business investments that use digital innovation and information technology, and is supported by Start Today which runs Japanese fashion e-commerce venture Zozotown.
“We are pleased to have Central Group and Start Today Ventures join us in building the first global fast-fashion brand out of Southeast Asia,” says Pomelo CEO David Jou. “This investment gives us further capital to continue to push our business forward.”
“We believe Pomelo and its team is best positioned to capitalise on the growing fashion-conscious middle class in Southeast Asia,” says Start Today Ventures general partner Reina Nakamura. “The company has established unique assets that distinguish it amid heating competition – a combination of data-driven business throughout a value chain that is competitive at a global scale, with an innovative interpretation of multi-channel (O2O) and an in-depth understanding of its customers across core markets in Southeast Asia.”
The extra capital raised will help the company continue to expand its product assortment, open innovative retail stores and continue moving into other markets.