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Vietnamese fashion re-commerce firm raises US$1 million

(Source: Piktina/Facebook)

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. 

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