Singapore-based women’s fashion retailer Love, Bonito has attracted $13m in a series B round led by e-commerce firm Kakaku that included NSI Ventures, the venture capital arm of private equity firm Northstar.
Founded in 2010, Love, Bonito sells women’s fashion items and accessories designed to flatter the physical shape of East Asian customers.
The clothes were initially sold through Love, Bonito’s online platform but are now also available at brick-and-mortar stores in Singapore, Malaysia, Indonesia and Cambodia. It opened its first flagship store in November 2017, in Singapore.
Love, Bonito plans to pursue a ‘clicks and bricks’ strategy, exploiting the growth of its e-commerce operation alongside brand visibility from high-end retail locations.
The series B proceeds will be used to expand the company’s headcount in data, product and engineering as it looks to strengthen its presence in existing markets and enter new countries in the Asia Pacific region.
NSI Ventures had previously provided an undisclosed amount of funding for Love, Bonito in 2016.
Dione Song, chief commercial officer at Love, Bonito, said: “We look forward to [benefiting] from Kakaku.com’s consumer and technology expertise and we are excited to continue to leverage NSI Ventures’ hands-on approach to helping companies scale globally.
“The digital consumer is increasingly discerning, and we are confident that we will be able to provide an unrivalled retail experience across online and offline touchpoints seamlessly through our constant innovation.”