Tag Archives: ecommerce

the luxury closet

Dubai-based The Luxury Closet with fresh funding acquires Hong Kong-based Guiltless.com

The Luxury Closet, a Dubai-based ecommerce platform for pre-owned luxury goods raised $2.3 million in fresh funds, as their 2nd part of their growth fund, and closed its growth round with $11 million. This second closing of the round was led by Knuru Capital, recently established VC from Abu Dhabi. They raised $8.7 million as the first part of this round in July last year. That funding was led by Middle East Venture Partners (MEVP), and joined by Wamda Capital, Precinct Partners, TechInvest, Saned, and Equitrust.

The Luxury Closet

Armed with the new investment, The Luxury Closet has acquired Guiltless, a Hong Kong-based ecommerce website that also sells pre-owned luxury products and this way they expanded to Hong Kong.

Kunal Kapoor, founder & CEO of The Luxury Closet, announced that the Luxury Closet has built one of the best catalogs in the world, and now they want to expand internationally. He also said that the acquisition of operations of Guiltless will enable them to offer delivery and concierge services to their customers in Hong Kong, and he welcomed Knuru Capital as it will help them to continue to globally disrupt online luxury space.

The Luxury Closet

Alain Dib, CEO of Knuru Capital said that they were delighted to have The Luxury Closet as one of their first investments. He added that their purpose is to help fund the growth of the world’s most promising digital disruptors.

Based on announcement, MEVP has sold a part of its stake as part of this transaction and still remained the biggest shareholder in The Luxury Closet.


Handmade products site Dirura has been launched for ex-Yugoslavian region


On a International Women’s Day, long awaited site for handmade products Dirura has been launched in Belgrade, Serbia. Dirura aims to become Etsy of the region of ex-Yugoslavia.

Region of ex-Yugoslavia is still untapped area in many Internet categories and although there are some well known ecommerce (auction and classified) sites in the region such as Limundo and Kupindo, Pik, Bolha,Pazar3 etc. still there is no well-known name in the field of handmade stuff.

One of the site co-founders Darko Vidić is CEO of design marketplace Green Design, regional equivalent of 99designs This project has been preparing for more than a year. Darko coined name Dirura, and it is acronym of “Dizajn ručnih radova” so “Design of handmade stuff”.

Now the real work actually begins. SEEMEA team wishes them good luck!

Consolidation brings forth new biggest portal in Poland

Orange Telecom has completed the sale of the oldest Polish horizontal portal Wirtualna Polska (wp.pl). The final price amounted to 383 mln PLN. Meanwhile, one of the buyers, O2 Group (o2.pl), has sold 20% of its shares to the fund MCI Management. The combined O2/WP is now the biggest portal in Poland.

WP and O2 will work together as the Grupa Wirtualna Polska. According to November’s data, the websites of  linked companies (taking into account shared visits) had 17.38 million of visitors and 2.82 billion of page views, taking the second place among web publishers after Google. They have the reach of 82% of the Polish internet.

The structural fusion will happen at the end of June. The new portal of the Grupa Wirtualna Polska has set itself a goal to achieve the level of 19.0 mln visitors montlhy, as it is the current result of Google with which the new structure wants to compete. They plan to develop video content, mobile offer and the premium content. After 5 years they plan to invest more in the e-commerce market.

Growing market of dating websites in Poland

More and more Polish Internet users are using dating sites.

Every 7th  user in the country does it. These website are most popular among men, people over the age of 55, users with vocational education – these are the main conclusions of the analysis conducted by the research company Gemius.

Number of Internet users who use dating sites has increased by almost 60 thousand people, which is 2%. This growth of users included more women and people under the age of 24 as well as those with lower secondary education, entrepreneurs, civil servants, skilled workers, farmers, housewives, the unemployed and students.

Most popular dating sites in Poland are: sympatia.pl, edarling.pl and sympatiaplus.pl.

Amazon arriving to Poland

Amazon, the American giant and one of the world’s biggest internet trading networks, plans to open three large logistics centers in Poland by 2015.

Within three years of their creation, Amazon will create 6 thousand of new workplaces. The company has just started to recruit for so-called ‘fulfillment centres’ and it is hiring production workers who will be responsible for the receipt of goods, warehousing and packaging. They also also team leaders and managers, computer scientists and engineers.

The ‘fulfillment centres’ are large warehouses where products are picked, packed and sent out to consumers. One Polish centre will be located in Sady (near Poznan) and two centres near the city of Wroclaw. Each centre will cover the area of 95.000 m2 and employ 2.000 people. Periodically, each centre will employ additional 3.000 people. In comparison, so far the largest distribution centre in Poland has belonged to UK supermarket chain Tesco, which covers an area of 60.000 m2.

The Polish logistic centres will be supporting Amazon’s retail operations all over Europe, particularly in Germany.