‘Weekly Shirts’ (Tae-Hyun Kim, CEO), a subscription service that delivers men’s shirts on a regular basis, raised USD 5 M. K Cube Ventures led this investment round and other investors include D.Camp and the Yoonmin Foundation. Weekly Shirts closed this seed round with USD 5M.
Weekly Shirts, launched in October 2016, is a subscription service that delivers men’s shirts on a regular basis. Their target customers are busy office workers who stress every morning about what to wear to work. The company is currently servicing the Seoul and Bundang area and its monthly subscription fee is around USD 45.
Customers only have to hang the shirts on the door and they can get new shirts without even having to interact with the delivery person. This is because they do ‘door-to-door’ delivery service overnight. They provide clean and quality shirts through a strict product management system that covers washing and ironing processes.
Tae-Hyun Kim, CEO of Weekly Shirts, said that “Weekly Shirts is expanding accessibility to customers by going on ‘MYOMEE’, which is Lotte Rental’s platform. Through this investment round, we plan to focus on improving customer satisfaction and efficiency for delivery”.
Shina Chung, Partner at K Cube Ventures stated, “Weekly Shirts is highly valued for its serviceability in the form of apparel rentals, reflecting the needs of people who value convenience and reasonable costs. In the future, we will actively support Weekly Shirts to develop an innovative business structure and stable revenue model”.
(Top photo from Platum)
This article, entitled “Korean shirt sharing startup Weekly Shirts raised USD 5 M”, was written in Korean by Stephanie Seo of Platum, edited by AllTechAsia.