Vietnamese fashion re-commerce startup, Piktina, has bagged $1 million in its latest funding from Touchstone Partners.
Launching in June by two former executives from Be Group, Phuong Nguyen and Huyen Trinh, Piktina offers a platform for buyers and sellers to trade their pre-loved fashion pieces with technology and delivery support.
The platform is primary targeting Gen Z and millennials, who are expected to be the driver of growth in the sustainable fashion industry.
“Touchstone is a venture capital fund focusing on the Vietnamese market with the desire to support innovative business projects, promote sustainability and bring good values to the community,” said Phuong Nguyen, founder and CEO of Piktina.
“This is a great motivation for us to be confident in the process of building and developing Piktina.”
Aiming to change consumers’ behaviour on recycling used fashion products, the e-commerce platform is betting on Vietnam’s growing resales fashion market, which the company estimates to value at about $5 billion by 2026.