 "Japanese fashion box startup AirCloset raises series B funding")
Subscription boxes have proven to be a risky business model in Asia, generating a laundry list of pivots to more traditional ecommerce and failures. But in Japan, one such startup is so popular that there’s a waiting list for subscribers – nearly a year since sign-ups opened. AirCloset, founded in July 2014, is bringing the subscription box back in style – and it has raised “just under” $8.4 million to do so.
AirCloset specialises in women’s clothing from boutique Japanese fashion brands.
The startup’s series B round, announced yesterday, was led by domestic venture capital firm JAFCO. Warehousing provider Terrada, an existing logistics partner, also joined the investment – as did White Kyubin, one of Japan’s leading dry cleaning chains. White Kyubin also signed on as a very relevant logistics partner. A final contributor was Credit Saison, a credit card issuer.
AirCloset ships three garments a month to subscribers – generally a combination of tops, bottoms, and dresses that can be worn together – for $57. It caters to young professionals and working mothers.
“We’re going to use [the investment] to expand our clothing stock and hire new team members,” Satoshi Amanuma, AirCloset founder and CEO said. “We’re also going to expand our fashion categories – currently ladies only – to include maternity, kid’s, men’s, and senior fashion. We’ll also add accessory items to generate even more brand discovery.”
AirCloset specialises in women’s clothing from boutique Japanese fashion brands.
The startup’s series B round, announced yesterday, was led by domestic venture capital firm JAFCO. Warehousing provider Terrada, an existing logistics partner, also joined the investment – as did White Kyubin, one of Japan’s leading dry cleaning chains. White Kyubin also signed on as a very relevant logistics partner. A final contributor was Credit Saison, a credit card issuer.
AirCloset ships three garments a month to subscribers – generally a combination of tops, bottoms, and dresses that can be worn together – for $57. It caters to young professionals and working mothers.
“We’re going to use [the investment] to expand our clothing stock and hire new team members,” Satoshi Amanuma, AirCloset founder and CEO said. “We’re also going to expand our fashion categories – currently ladies only – to include maternity, kid’s, men’s, and senior fashion. We’ll also add accessory items to generate even more brand discovery.”
This is an excerpt from Tech in Asia. You can read the full article here.