Laso, a Tokyo-based fashion e-commerce retailer specializing in high-end clothes and outfits from around the world, has announced it has fundraised 200 million yen (approximately $2.1 million) from US-based VC firm DCM. The company expects to use the fund to improve site design, further system development, hire new employees, and create O2O (online to offline) marketing approaches.
To differentiate the service from others in this intensely competitive field, the company has imported more than 200,000 items from 2,000 brands in 50 countries worldwide. Their buyers handpicked items to showcase in accordance with global fashion trends. They have no physical inventory of these items in Japan, so a user’s purchase will be delivered one or two weeks after placing the order.
In its announcement, the company highlights how much potential there is in this business:
The Japanese fashion market has not matured yet, where some foreign fashion brands are struggling hard to find market potential and other brands have been forced to give up continuing their business expansion. We wish to give consumers more opportunities to encounter wonderful global fashion items and make themselves feel close to the world.
Laso was founded in 2006 by Masatoshi Murota who was previously on the board of directors for J-Word, which provided a web browser plug-in and an alternative to Google Search. It later acquired by Yahoo Japan and GMO.