DTC's Daily Digest gives you the latest news on the fastest growing brands in the world. In today's edition: Away is the latest Unicorn DTC. SoftBank looks to Grofers for a share of Indian e-commerce; Tavistock launches new DTC application.
Away is the latest Unicorn DTC
Direct Luggage Label to Consumer (DTC) Away Tuesday $ 100 million (£ 78 million) announced, Raised the company's valuation to $ 1.4 billion (£ 1.1 billion). The new valuation gives Unicorn Away mode, joining DTCs such as Glossier, Casper and Rent the Runway in that category.
Away plans to use infusion to expand its product line in existing categories, as well as launch products in clothing, wellness and lifestyle accessories; develop a brick and mortar imprint with 50 new stores in the next three years; and help with international brand expansion plans. The company uses finance partly to expand the scope of its 39 countries where it sells, with plans for international business development tenfold over the next three years.
The investment round was led by Wellington Management Company, which also included Billy Gifford, Lone Pine Capital and Global Founders Capital. New financing The total funding of Away is $ 156 million (£ 122 million). According to the company, Away sales reached $ 12 million (£ 9 million) in its first year, amounting to $ 150 million (£ 117 million) in 2018 and is expected to double its sales in 2019.
SoftBank looks to Grofers for a share of Indian e-commerce
Start Indian delivery Grofers she has Raised $ 200 million (£ 156 million) in financing the F series From SoftBank. The company raised $ 441.8 million (£ 334 million), according to Crunchbase.
Grofers is an online grocer. However, it also sells home care products, baby care, and pets. Then you deliver these products to the residents of Mumbai, Pune, Kanpur and Delhli, among many other products.
SoftBank is an interesting investment, given that another player, BigBasket, has just raised $ 150 million (£ 117 million), while Flipkart's market presence means strong competition in the Indian e-commerce industry. Grofers seems to be a small player in the market in terms of pumping capital.
However, it is also likely that the grocery market and Indian delivery will be able to support a large number of players due to the large market size, SoftBank believes that there are many returns in owning a slice of cake. In either case, with the support of a player like SoftBank, there is a good chance that Grofers will begin to bring more impact to Indian e-commerce.
Tavistock launches new DTC application
Tavistock WealthIs a British financial services company that manages more than £ 1 billion of client assets Has released a smartphone application to customers Give them direct access to their money.
The product, called i-stock, can be accessed without the help of a financial advisor and will be available on all types of electronic devices as well as on the company's website. The application and location will allow customers to open international investment accounts and public investment accounts as well as receive daily updates on the value of their investments.
Starting a live consumer application seems like a reasonable step for a wealth management company. It must mean that they can include themselves as part of their daily customer habits, while before they verify their Tavistock account more clearly.
Tavistock also opens access to the application for Lighthouse or any of its partners in the convergence group, with 5.3% of Tavistock shares.