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FashionAndYou.com raises $8 million investment from Sequoia Capital India

FashionAndYou.com, an online retail shop of luxury fashion goods where membership can be obtained only by invitation sent by the site or its existing members, has raised $8 million investment from Sequoia Capital India. FashionAndYou plans to use the funds to enhance its product offering, strengthen its enterprise technology and expand its distribution capacity.

FashionAndYou.com, an online retail shop of luxury fashion goods where membership can be obtained only by invitation sent by the site or its existing members, has raised $8 million investment from Sequoia Capital India. FashionAndYou plans to use the funds to enhance its product offering, strengthen its enterprise technology and expand its distribution capacity.

Shailendra Singh, managing director, Sequoia Capital India, has said, “We are delighted to partner with the founders and management of FashionAndYou, who have quickly built FashionAndYou into the leading online retailer of premium fashion brands in India over half a million members who are part of the private shopping club.”

“FashionAndYou was the third to start in its category and is now a clear market leader in online fashion retail in India,” Harish Bahl, founder and chairman, FashionAndYou.com, has said. “With a premium partner like Sequoia now on board with us, we are even more confident of achieving our initial goal of being the sales platform for most high fashion brands in India contributing to at least 10 per cent of their sales by end 2011.”

Pearl Uppal, co-founder and CEO, FashionAndYou.com, has said, “FashionAndYou offers its consumers and clients a pan-India marketing, retail and distribution platform for fashion and lifestyle brands. We believe we are creating a shopping revolution in India and the investment from Sequoia Capital gives us the tremendous impetus that we require right now to leap into a growth spiral.”

FashionAndYou.com is part of a Global Brand Alliance of Private Sales Clubs in eight markets including Russia, Brazil, US, Turkey, Middle East, Australia, Mexico and Switzerland. Launched in January 2010, FashionAndYou currently employs more than 150 people across its offices in Gurgaon, Delhi, Mumbai and Bangalore. The company is based in Gurgaon.

Sequoia Capital has been an early investor in companies like Google, Yahoo, YouTube and Apple Computers. In India, Sequoia has invested in over 50 companies including Cafe Coffee Day, Dr Lal PathLabs, Idea Cellular, Just Dial and Shaadi.com. Sequoia Capital currently manages funds capitalized at $1.8 billion and invests across venture, growth and late stage opportunities in India.

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