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Bits & Bytes | Sir Philip Green Buys Stake in MySale, JustFab Seeks $50M

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Bits & Bytes is a weekly roundup of the most important news in the fast evolving fashion-tech space.

Sir Philip Green and daughter Chloe Green | Source: Shutterstock

“Arcadia Billionaire Buys 25% Stake in MySale” (The Financial Times)
“Sir Philip Green, the billionaire entrepreneur, has made his first big foray into a pure online retailer by taking a 25 per cent stake in MySale, an Australian fashion sales site. The head of the UK’s Arcadia retail conglomerate made the investment last week, for an undisclosed price as the Australian company announced plans to move its headquarters to the UK in order to help expand its supply chain.”

“JustFab Seeking $50 Million to $100 Million Investment Ahead of Possible IPO” (Recode)
“Online shoe and apparel retailer JustFab has started talking to investors about raising new funding to the tune of $50 million to $100 million, according to a person familiar with the talks. The company has hired Morgan Stanley to help run the process, this person said.”

“Wheretoget Raises $2 Million For Its Powerful Shazam For Fashion” (TechCrunch)
“Whenever you see an outfit that you like on the web or in the street, you upload a picture. Wheretoget’s community will take care of the rest and find where you can get this very same outfit. There is no secret sauce, no magic algorithm, just dedicated human beings. And the French startup just raised $2 million (€1.4 million) from Alven Capital, Fabrice Grinda, Emmanuel Brunet and other angels.”

“E-Commerce Edge Helps British Retailers Expand Abroad” (Reuters)
“Marks & Spencer Plc is making a new push to expand abroad, hoping e-commerce will give Britain’s biggest clothing retailer a better chance to succeed than earlier attempts to enter new markets. It is one of several retailers that are using expertise developed in the UK’s fast-growing e-commerce market to expand overseas.”

“Indian Fashion Discovery Site LimeRoad Lands $15M Series B” (TechCrunch)
“LimeRoad has closed $15 million in funding, which it says is one of the largest Series B rounds secured by an online commerce company in India. Investment was led by Tiger Global, with participation from returning investors Lightspeed Venture Partners and Matrix Partners India.”

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