BusinessStartUp News

Fashionara.com Shuts Down

Unhappy Ending!

Bangalore-based online fashion and lifestyle retailer, Fashionara.com calls it an off. Operated by Fashionara Enterprises Pvt Ltd, Fashionara.com’s both website as well as app are no longer accessible. The company was founded in 2012 by Arun Sirdeshmukh, former CEO of Reliance Trends and Darpan Munjal, former CTO of Times Internet Ltd. It had raised a funding of around $4 million in Series A round from Lightspeed Venture Partners and Helion Venture Partners.

Fashionara was encountering heavy losses and huge rivalries from Flipkart, Snapdeal, Myntra, Jabong and Koovs. Moreover, Darpan Munjal, one of the founders quitted the company in January this year and joined Squadhelp.com, a crowd funding platform, helping the startups and businesses across the world to establish and grow. The apparent reason for breakdown is the lack of funds that was making Fashionara’s survival difficult in this competitive online fashion industry.

The startup offers fashion products from renowned brands including Adidas, Reebok, Benetton, Sisley, Nautica, Guess, Lee, Wrangler and Vans. In 2015, the company had also stepped into the home-furnishing market.

Takeaways:

  • Fashionara was encountering heavy losses and huge rivalries from Flipkart, Snapdeal, Myntra, Jabong and Koovs.
  • The apparent reason for breakdown is the lack of funds that was making Fashionara’s survival difficult in this competitive online fashion industry.
Comments

The Author

Startup-Buzz Team

Startup-Buzz Team

Startup-buzz Team is a collaborative group of entrepreneurs, researchers, writers and experienced professionals. Tied up together to bring the latest Startup Buzz going around the globe.

Previous post

Rufus Cuff first Wearable Android Tablet

Next post

Bragi, the Next Generation Wireless Earphone