Japan-based fashion e-commerce platform Fabric Tokyo has secured a 10-figure yen (¥1bn = $9.1m) amount from retailer Marui Group last week, taking its accumulated funding to more than $18m.
Founded as LifeStyle Design, Fabric Tokyo sells clothing online, storing customers’ measurements on the cloud, allowing them to order bespoke suits and other articles of clothing that have been tailor made.
Marui already operates three of Fabric Tokyo’s 10 physical stores in Japan, and they will share information on direct-to-customer strategies and jointly participate in offline marketing following the investment.
Nissay Capital, the corporate venturing arm of insurance firm Nippon Life, took part in a $6.7m round for the company in October 2017, as did venture capital firms Globis Capital Partners and Spiral Ventures, the latter having previously been known as IMJ Investment Partners Japan.
Fabric Tokyo had secured $3.7m in funding nine months earlier, from investors including Nissay Capital, IMJ, VC firm Future Venture Capital and financial services firm Chiba Bank’s corporate venturing vehicle, Chibagin Capital.
Nissay Capital had previously supplied Fabric Tokyo’s initial funding, investing approximately $910,000 in 2015.
