Global fashion platform Kooding has received an undisclosed amount in investment from K Cube Ventures and US-based Inmost Partners.
Founded in 2013, Kooding is an online marketplace that brings together local brands and connects them to customers around the world. Currently, over 50 brands are listed on the website with buyers in over 70 countries, including major markets such as the US and Canada.
Most local brands that want to go global have to invest in setting up systems for delivery, marketing, customer service and payments. Through Kooding’s platform these brands are able to enter overseas markets without having to worry about these barriers that come with the service.
The startup maintains trust with brands through its effective and stable business model. When an order is received, the item is sent directly to Kooding, which then delivers it to the customer within 3-4 days. The fast service reduces increases demand and reduces the risk of having extra inventory lying around.
“At Kooding we are working hard to improve customer satisfaction and maintain our return rate which is currently 6 times less than the average industry rate,” says Kooding CEO Justin Ryu. “Through this investment, we plan to bolster our logistics processes and marketing, and also set up partnerships with more designer brands.”
Shina Chung from K Cube Ventures also commented on the funding. “Excluding local brands in the top 100 of the 2 million fashion brands around the world, many local brands encounter barriers to entering overseas markets,” says Chung. “By helping solve these difficulties and helping consumers abroad experience foreign brands, we look forward to Kooding growing as a unique fashion commerce model.”
