An ecommerce platform dedicated to used fashion items developed by a Vietnamese startup has raised a successful seed round of US$1 million.
Fashion recommerce platform Piktina announced it successfully secured $1 million in seed funding from Touchstone Partners, a venture capital investment firm.
Launched in June this year, the Vietnamese startup has emerged as a favorite choice of Gen Z and the fashion enthusiast community.
Youthful language, well-organized images, an easy-to-use interface, and thousands of unique, quality, and affordable products are what make Piktina attractive to users.
Piktina is a place where users can not only refresh their fashion styles with unique items but also earn passive income from their own wardrobe.
As a technology platform connecting the needs of buyers and sellers, Piktina helps free up each individual's wardrobe and provide solutions to help users extend the product life cycle, thus becoming a link of the circular economy in Vietnam.
Piktina focuses on increasing the awareness of fashion consumers in Vietnam about the sustainable values of reusing old products, saving resources, and protecting the environment.
In addition, utilities such as delivery, payment, and customer care are also fully integrated into the application to provide the smoothest experience for all users.
The $1 million investment from Touchstone Partners will be used to further develop products, test new business models, and grow the user base in the near future.
The impact of the COVID-19 pandemic and the disruption of global supply chains have led to increasing living costs and accelerated the change in consumer awareness and behavior.
The use of second-hand fashion is becoming a popular trend among young Vietnamese as it helps save cost, protect the environment, and develop a sustainable fashion industry.