Picture Credit: Dailyhunt

 

Mayfair, a new entrant to the lifestyle and apparel ecommerce market has received a $3.2 Mn funding from Nexus Venture Partners and CDH Investments, according to a statement by the company.

Mayfair said that the round was its seed funding round and will be used to ramp up procurement and operations and to expand the team. On its Linkedin page the company has described itself as a fast-growing fashion startup with funds raised from Baidu founders.

Mayfair was founded by Chi Xue (Data Science Head at ClubFactory, Ex-Google) and Eddie Deng (Director at Alibaba) in October 2018 at Gurgaon.

The company offers affordable fashion across verticals such as clothing, accessories, and home and living products. Mayfair has a dedicated team of buyers across its offices in Italy, Shanghai, and India who curate an exclusive selection of the Italian and international high street designs, on their online platform.

Directly buying from the factories helps the company to bypass distributors, sellers and brand premium, and in turn brings down the product cost. Mayfair further uses data science and AI to track customer behaviour trends.

 

 

 

Source: Inc42

______________________________________________________________________________________________________________________________________

We’re listening:

Reach us at https://taxmantra.com/business-maintenance/ or Call/WA us at +91-9230033070 for any support/query/feedback.

 

________________________________________________________________________________________________________________________________