iFashion Group, Singapore-based platform, has announced the acquisition of online fashion store Dressabelle for $5.5 million, reports Deal Street Asia.
iFashion Group covers varied market segments from offline to online ventures in Southeast Asia. Their ventures include:
- Invade: Real-Time retail booking system with over 35,000 retailers
- Flea Where: Flea market organization
- Space Invasion: Pop-up retail concept with a collection of labels
iFashion Group only has presence in Singapore, and Dressabelle has a strong presence in Malaysia and Indonesia with annual revenue run rate of $3.24 million. It is not surprising then, that iFashion Group has Southeast Asian expansion plans in the pipeline.
By joining the iFashion Group, Dressabelle now has a wider product selection and looks forward to forming exciting collaborations with other brands under iFashion.
Aside from regional expansion, Dressabelle customers can expect more frequent collection launches, a wider selection of clothes and collaborative projects under iFashion Group’s management. Dresssabelle’s acquisition suggests that following the ecommerce trends for 2016, companies are choosing to acquire companies rather than build a whole new platform.
A version of this appeared in Deal Street Asia on July 19. Read the full version here.