Ukrainian fashion group raises $400k from SMRK fund
Ukrainian Love&Live Fashion Group received a $400,000 investment in a seed round from SMRK Venture Fund.
Love&Live Fashion Group is a Ukrainian group of fashion brands with headquarters in Kyiv. It includes the brands of clothing, shoes, and accessories Love&Live, Katarina Ivanenko, and others, as well as the marketplace of Ukrainian brands Shopping Mall. Founders of the company: Ukrainian entrepreneur Alexei Omelyanchuk and designer, photographer Ekaterina Ivanenko
Why did the investor pick this company?
According to Andriy Dovzhenko, managing partner of the fund, they have not previously invested in e-commerce projects or in those projects that are not pure IT.
“In this regard, Love&Live project is a kind of experiment for us. The main factor that made this investment possible is a high level of creativity. We saw here an analogy with software companies that develop their own products,” Dovzhenko says. According to him, the team contacted the fund looking for help to tap into overseas markets.
Where will the funds go?
The funds raised will go towards scaling in the Ukrainian market, increasing online sales and going offline. Also, the funds will be needed to launch a Premium segment of the fashion brand and for the company’s international expansion.