Love, Bonito, one of Southeast Asia’s largest omnichannel womenswear brand, has announced raising $50 million in a Series C funding round led by Primavera Capital Group.
Adastria, Ondine Capital, and existing investors, including Openspace Ventures and Kakaku.com also participated in the funding round, as per the announcement.
The company said it will use the fresh funding to bolster efforts in existing omnichannel markets and to expand in international markets that are experiencing triple digits year-on-year growth.
These markets include Hong Kong, Japan, the Philippines, and the US.
Since its launch in 2010, Love, Bonito has achieved impressive growth, expanding into 10 key markets which include those in Southeast Asia, namely Singapore, Malaysia, Indonesia, the Philippines, Cambodia, and East Asia markets, namely Taiwan, Hong Kong, Japan, as well as Australia and the US.
“I am more excited than ever for what is to come in the next decade,” said Rachel Lim, Co-Founder of Love, Bonito.
According to the announcement, the brand will double down efforts within markets such as Singapore, Indonesia, and Malaysia that have omnichannel presence.
Other markets such as Hong Kong, Japan, the Philippines, and the US will see an expansion in omnichannels, new business verticals, strengthening of local community engagement and key collaborations, as well as the continuous optimisation of user experiences.
In the next phase of its growth, Love, Bonito aims to shake up the fashion industry by creating a more meaningful impact on its community across all life stages.
The brand is setting its sights on creating a thoughtful and well-rounded female ecosystem, supporting different facets of women’s needs within Asian countries and reaching further into the Asian diaspora communities across the globe.
“We have built a strong foundation in understanding the everyday Asian woman in order to be pre-emptive in catering to her needs,” said Dione Song, CEO of Love, Bonito.