• GlamCorner founders - Audrey Khaing Jones and Dean Jones.
    GlamCorner founders - Audrey Khaing Jones and Dean Jones.
Close×

GlamCorner has closed a $12 million series B funding round to accelerate growth and operations.

The fashion-rental business will use the funding to realise its dream of becoming the 'Netflix for fashion,' allowing customers to have access to an endless online wardrobe for a monthly subscription fee. 

GlamCorner will invest in its collection, expanding it from 28,000 articles of clothing to over 60,000 articles and will introduce new product lines and brands. 

The business will also expand its fulfilment and distribution footprint which will include a significantly larger warehouse and fulfilment centre, garment care, laundry operation and logistics teams.

The new laundry will be designed to preen and clean up to 250 tonnes of clothing per month. 

GlamCorner COO and co-founder Audrey Khaing-Jones said that the business is thrilled to reach this milestone. 

"We have been working towards this moment at GlamCorner for eight years now — the moment fashion rental becomes an everyday part of our customer’s wardrobe.

"We’re so excited to offer our customer a better deal and via a fulfilment and logistics capability large enough to realise our ambition to be an Endless Online Wardrobe for every woman in the country," she said. 

The business will invest in its growing subscription box rental service ('Netflix for fashion') similar to US company Rent the Runway.

This investment will see GlamCorner launch exclusive products in collaboration with local and international designer labels - amounting to the 'Netflix Originals' of fashion rental. 

GlamCorner's tech-platform and team will also receive a funding boost with the business set to invest in a native iOS app, which is currently in development, as well as further fulfillment automation and systems. 

The investment round was led by family-owned, responsible and sustainable investment group, Treïs. 

Airtree Ventures, Giant Leap Fund, Marshall Investments and Silicon Valley-based Partners For Growth have also doubled down on their previous investments in the company.

Peter Gammell and MediaCap Fund are new investors in the oversubscribed round, with this round bringing GlamCorner’s total funding to date to $18 million from some of Australia’s leading investors in this space.

"We are delighted to welcome such high-quality investors on board for our Series B who share our vision and see the scale of the opportunity in front of us," Khaing-Jones said. 

"Having the backing and endorsement of a family owned responsible and sustainable investment Group such as Treïs exemplifies our goal to create a generational shift in fashion consumption," she said. 

GlamCorner offers access to global and Australian leading designer brands including Zimmerman, KITX, Camilla & Marc, Thurley and Ginger & Smart.

comments powered by Disqus