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The platform would also help sellers leverage micro-market level B2B and B2C insights from the Flipkart ecosystem to better understand customer demands specific to their area so that they can buy and sell the right products.
Fashion has been one of the worst-hit categories during the Covid-19 pandemic. People have avoided buying new clothes since March.
“As a result, the fashion industry is sitting on a huge unsold inventory. This also includes Myntra’s private labels. Festive season is a good time to clear such inventories. I think this is the reason behind the expansion of Flipkart Wholesale with fashion only,” added Meena.
Online kids’ fashion brand Hopscotch has raised $25 million in what appears to be Series D round from Facebook co-founder Eduardo Saverin’s investment arm EE Capital, Lionrock Capital, Rise Capital, RPG Ventures and IIFL Seed Ventures Fund.
The Mumbai and New York-based startup had last raised $13 million in Series C round led by Eduardo Saverin in February 2016.
According to an ET report, the latest round also saw participation from angel investors including co-founder of Diapers.com, Wei Yan and others. Currently, Yan is a partner at Rise Capital.