New retail

A plum position for fashion retail

The e-commerce platform for second-hand fashion products has raised $20 million to help it sell high-end luxury on the cheap.

E-commerce platform Plum completed a follow-on Series B fundraising on Thursday.

The follow-on funding totalled around $20 million and was led by Japanese information platform Recruit Holdings. Existing investors including Matrix Partners China, Qiming Venture Partners and Unity Ventures all participated.

The follow-on Series B funding comes a year after the Beijing-based company's previous round. Plum raised more than $10 million Series B funding in August 2018, led by Matrix Partners China along with IDG Capital and Qiming.

Plum is a platform which sells second hand luxury products, predominantly shoes, bags and clothes. The platform was launched in 2017. It offers a...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222