Bagallery, a beauty, and fashion eCommerce startup have raised $4.5 million in a Series A round of funding.
Bagallery is on a mission to change the way consumers purchase online beauty and fashion products. Bagallery offers more than 2.7 million monthly visitors and has 500K+ pleased clients across the country with its vast assortment of products encompassing the areas of skincare, beauty, fragrance, handbags, watches, and clothes.
With the fresh fund, Bagallery plans to launch additional projects in 2022, including a “first-of-its-kind platform that will link customers and influencers in the beauty and fashion business.” With the funding, the business plans to acquire fashion labels and expand to other areas in a “mega expansion.” Bagallery’s mission, according to a statement, is to “democratize online beauty and fashion with best-in-class customer care and an unrivaled selection.”
“In a country with a population of 220 million people, everyone wants to look their best. Our goal is to provide cheap fashion and beauty products to people from all walks of life. Fashion and beauty are the most popular e-commerce categories worldwide, therefore we’re in the perfectly vertical, which has already produced several unicorns, particularly in the previous three years “Salman, the CEO stated.
Bagallery has seen a three-fold increase in income since raising initial money in 2020, as well as the addition of more than 20,000 products and 2,000 brands to its online store. The company’s value has increased fourfold since the previous stage.
“We are pleased to continue to help Bagallery in its mission to redefine Pakistan’s online beauty and fashion market,” says the company. According to Babar Lakhani, managing partner of Lakson Venture Capital, “with the money, the e-commerce site will be able to increase quicker by acquiring online fashion businesses to grow its portfolio and maintain its market leader position.”
MD Hayaat Global’s Mohammed Ikhlaq said the company was driven to Bagallery because of its focus on solid fundamentals such as education “Promoters who are passionate about the brand, an in-demand brand portfolio, excellent customer outreach, and a growth mindset. The team is using these assets to provide consumers with fresh, innovative concepts regularly, establishing itself as a market leader in the process “.
Image Credit: Bagallery