Bagallery: A Pakistani startup based on digital beauty and fashion has raised nearly $4.5 million in Series A funding. This round was co-led by Zayn Capital, existing investor Lakson VC, and UAE-based Hayaat Global.
Bagallery, founded by Mina Salman back in 2017, is also one of the largest female co-founded started which is currently valued four-time compared to its seed round funding. The startup is hyperfocused on reinventing how people shop for beauty and fashion products online. This includes expanding to a wide range of products which includes skincare, makeup, fragrance, handbags, watches, and more.
With a 40% female workforce, the startup serves more than 2,700,000 visitors per month and has more than 500,000 satisfied customers across the country.
In regards to the workforce situation, Bagallery: Pakistani Fashion startup founders stated the following:
“Pakistan is a country of 220 million people, and everyone wants to look beautiful. Our purpose is to offer affordable fashion and beauty products to each and every segment of our population. Globally, fashion and beauty are the biggest categories for e-commerce, so we are playing in the right segment, which has already seen many unicorns globally, especially in the last three years. We are planning for a mega expansion after this funding, both through acquiring some fashion brands and expanding to other locations.”
In addition, the startup also launched exciting innovations which have truly reshaped the e-commerce ecosystem in Pakistan such as virtual try-on with L’Oreal ModiFace, live streaming, and social commerce. With such impactful changes, the startup is very close to fully establishing itself as a market leader in the beauty and fashion industry.
According to one of the co-founders:
“It’s been amazing to see the growth of this company over the last few years, and I am really excited to be a continued of Mina and Salman’s vision to build the best beauty and fashion platform in Pakistan.”
Babar Lakhani, the Managing Partner of Lakson Venture Capital, stated the following:
“We are thrilled to continue supporting Bagallery in its aim to reinvent the online beauty and fashion industry in Pakistan. Since its launch, Bagallery has captured the market with its innovative go-to-market strategy and partnerships with leading brands. With its Series A funding, Bagallery can scale faster by acquiring online fashion brands to grow its portfolio and maintain its market leader position. We stand committed to Mina and Salman and the Bagallery team in making the company the first domestic beauty and fashion unicorn.”
Through the funding acquired, the startup is aiming to launch its latest products around 2022 which will include the first-of-a-kind influencer platform which will allow influencers in the beauty and fashion industry to connect with the website and help further evangelize their products. In addition, Bagallery also aims to purchase a few online brands in their operating categories hence enabling them to uplift themselves in growth.
Source: Tech Juice
