Brich announced that it has secured 3.7 billion Korean Won in investment from Hyundai Venture Investment Corp., Posco Capital, Intervest, Capstone Partners and Jenet. This puts the total amount of investment fund Brich successfully raised at $ 7.2 billion Korean.
Brich is a mobile fashion commerce start-up which enables the purchase of products from clothing shops located on trendy fashion streets such as Garosu-gil and Hongdae. It surpassed 20 billion Korean Won in annual sales in just 2 years since it launched its services. It is also strengthening its position as an omni-channel solution platform by opening shops in 5 Lotte Department Stores as well as co-branding with Girolamo Panzetta to launch Giromondo. Director Seo Yong-Duk of Hyundai Venture Investment Corp. said “Roadshops are seeing over 0.1 billion Korean Won in sales per month and so I strongly believe in the opportunities Brich has as a unique omni-channel platform for roadshops.
Brich CEO Lee Jin-Wook said “We are planning to establish a commerce environment which is easy for Korean SMEs and consumers to use based on the infrastructure and expertise we accumulated over the years” and added “We will grow into an international service which encompass Korean and Japanese contents and marketing through collaboration in e-commerce and investment in Japan”. More details on Brich are available on the website.
