Singaporean media company MediaCorp Pte Ltd on Monday announced that it has led the latest round of investments into Reebonz Pte Ltd, one of the region’s fastest growing luxury online retailers.
The round raised SGD50 million (USD39.8m) and values Reebonz at over SGD250m. Post completion, Reebonz’s total invested capital base stands at SGD100m. The investors include Vertex Asia Investments, Granite Global Ventures, Intel Capital, and Matrix Partners China and Infocomm Investments, the venture arm of the Infocomm Development Authority, Singapore.
Reebonz Pte Ltd operates a luxury e-commerce website. Recently, it has expanded its reach by going into the pre-owned luxury goods and design & lifestyle products through its properties, Reebonz Vintage and Kwerkee.com. In 2011, it launched Reebonz SPACE, a flagship retail lounge in Singapore. The company has a current member base of 2 million.
"We have built a strong following, a trusted brand and excellent customer experience for our customers, since our inception in mid-2009. We are delighted to have MediaCorp as an investor and business partner and I am confident that the MediaCorp brand association will further solidify Reebonz’s position in the online luxury goods space and build a world class billion-dollar internet commerce group out from Singapore and further strengthen our market leader position in eight key geographic markets in Asia-Pacific," said Samuel Lim, Reebonz CEO.