Rock.in, an etailer of fashion and high end international apparels brand has raised an undisclosed amount in its series A funding from Partech International, a venture capital firm based in France & Silicon Valley and 3 angels which are retail families of Europe. The funding round got closed earlier in February this year and now it is eyeing to raise another $ 5 million as series B in coming months.
According to a company statement, the raised capital will be used for setting up operations in India, bringing new brands to the platform and building team. The startup is also intending to spruce up logistics, customer care, editorial content, marketing and technology.
Rock.in was founded in May, 2012 by Aashish Puri and Suraj Sharma and it has operational licenses from more than 100 international brands from US and Europe including La Redoute, House of Dereon, Calvin Klein, DKNY, Marc Cain, FCUK, Fever London, Just Cavalli etc. The site sees fair amount of appetite for international brands from consumers and it has monthly sale of around 50 lakh with 50 % its orders originate from tier 2 & 3 cities.
At present, Rock.in is a team of 40 and it plans to grow upto 75 by the end of this year. It is also looking to set up offices in Delhi and Bangalore. Rock.in has an average transaction value of Rs 3,000 and claims to have 25,000 hits every day with 3- 5 per cent overall conversion rate.
Link to full article