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Japanese Fashion E-Store Locondo Slips Into $6.2 Million in Funding

Japan Locondo gets series B funding

Japanese fashion and shoes e-store Locondo.jp has today slipped into JPY 600 million ($6.2 million) in series B funding. The investment is led by web portal Excite Japan, and the tie-up also entails a big boost in visibility among the 50 million monthly visitors to Excite’s Japanese homepages.

Previous investors Lead Capital Management (LCM), and Itochu Technology Ventures (ITV) also participated in this second major round. The business has been backed by Rocket Internet.

(See also: Asian E-Commerce Sites Net $6.9 Billion in Investment in Past 3 Years, But Exits Still Tiny)

Locondo claims to have an annual turnover of $31 million from its 300,000 users; it launched in February 2011. It marks itself out from rival e-stores with a very generous trying on policy that lets people return unworn items within 30 days. Locondo specializes in lady’s shoes but does also stock some accessories and several ranges of women’s clothing.

Locondo has had backing from Rocket Internet but is not officially one of its numerous startup ventures. Rocket’s sole e-commerce store in Japan is its pan-Asian make-up subscription service Glossybox.

(Source: Startup-Dating)


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