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The Silicon Review Asia

Online fashion souk ‘Voonik’ acquires three online marketplace startups to create its finest fashion product ‘Vilara’

Online fashion souk ‘Voonik’ acquires three online marketplace startups to create its finest fashion product ‘Vilara’

Popular for encouraging curated fashion, Sequoia Capital-backed fashion souk Voonik is creating a buzz by acquiring three startups to build its premium fashion product known as Vilara.

In the past six month, the company has acquired five startups. And also has raised $5 million last year, from Sequoia Capital and SeedFund. It claims to have achieved a $100-million run rate and is aiming to grow four-fold in GMV by the end of this fiscal.

With the acquisition the company is attempting to strengthen its leadership in the unbranded fashion segment, largely via acqui-hires or team acquisitions of startups in niche fashion offerings. The three acquired companies are online marketplace for designers and boutiques Zohraa, which has a 12-person team, the eight-person team at online silk store Picksilk.com and the nine-person team at Styl, which connects stylists and salons with consumers.

Acquisition made by the company a month back- The company acqui-hired menswear focused fashion portal Getsy leveraging on whose expertise; Voonik forayed into the menswear segment with its app, Mr Voonik. It also lapped up four people from the ten-member team from online apparel rental startup Klozee, which shut down its operations approximately six months back.

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