iFashion pays $5.5m for Dressabelle eStore

Singaporean online fashion platform iFashion has acquired fashion eStore Dressabelle for US$5.5 million in cash and shares.

The Singapore platform provides services to online entrepreneurs seeking to reach a wider audience, including mentorship, marketing, logistics, warehousing, sales, fulfillment, and financial services. The company raised seed funding in March, and says it models itself on South Korean digital media and marketing network Yello Mobile, known for its aggressive acquisition strategy.

Just three months ago, iFashion paid more than $1 million in cash and shares to acquire retail space-booking platform Invade.

As part of iFashion, Singapore-based Dressabelle will offer more products and collaborate with other brands, says CEO/founder Jeremy Khoo. “Online shoppers can expect more frequent collection launches, a wider selection of clothes and exciting collaborations with other brands under the iFashion group.”

Dressabelle’s last undisclosed external funding was a Series A round worth $750,000. Singaporean startup investment company Fatfish Group, which backs iFashion, took a 15 per cent stake in Dressabelle three years ago.

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