The French venture capital firm Ventech has invested $3 million in TrendsBrands, a Russian online retailer of designer clothes. TrendsBrands existing Russian investors Kite and ru-Net put $1 million more into the round that valued the business at some $8 million to $10 million post-money, according to newspaper Kommersant. In 2011, the two firms invested $1 million in TrendsBrands that generated sales turnover of some $10 million last year.
Launched in June 2011, TrendsBrands.ru sells both Russian and western designer clothes using concept of “high fashion, low price”. It also operates two stores in Tsvetnoy Central Market, a shopping center in Moscow downtown. Referred by some as a copycat of ASOS, a British fashion online retailer, TrendsBrands is headed by CEO Anastasia Sartan.
According to a recent report from Morgan Stanley, the Russian e-commerce market will increase from $12 billion in 2012 to $36 billion in 2015.
In Russia, Ventech has invested in online hotel booking service Oktogo.ru, social games publisher Pixonic and women-centric online portal WomanJournal.