K Cube Ventures announced on September 13 that it invested in the global fashion cross-border platform, Kooding. Kooding’s Series A round was conducted jointly by K Cube Ventures and Inmost Partners. The investment amount is undisclosed.
Founded in March 2013, Kooding is a global fashion online marketplace that gathers local brands on its own website and connects them with customers worldwide. Currently, more than 50 local brands are selling their products through Kooding to over 70 countries, including the United States and Canada.
The brands on Kooding can expand into global markets without any separate marketing strategies or delivery systems. Local brands usually have to invest a huge amount of money and extra human resources in order to build systems on global payment, marketing, and customer service. However, Kooding solves the whole process at no extra cost.
Kooding maintains trust with brands through an efficient and stable business model. For instance, they receive the products from brands as soon as the order comes in and it takes less than three to four days to deliver. This process enables them to maintain a low inventory risk.
Justin Ryu, CEO of Kooding, stated, “Kooding is always trying to improve customer satisfaction. We are maintaining a return rate about six times lower than the industry average. Through this investment round, we aim to strengthen the logistics process and marketing, as well as expand our partnership with more designer brands”.
Shina Chung, Partner at K Cube Ventures, mentioned, “With the exception of the top 100 brands of the 2 million fashion brands in the world, many local brands struggle to enter overseas markets. Kooding not only solves the difficulties that these brands are facing, but also the inconveniences of consumers who want to easily experience these overseas brands. We expect Kooding to revolutionize the market with a new fashion commerce model”.
(Top photo from Platum)
This article, entitled “Fashion e-commerce site Kooding raises investment to sell Korean brands overseas”, was written in Korean by Minjung Kim of Platum, edited by AllTechAsia.