Congratulations, Voonik!

Online fashion portal Voonik to gain three startups to develop its premium fashion product, Vilara. In the past six months, Voonik has successfully acquired five startups.

 The reason for acquisition

Now, Voonik is mainly focusing to strengthen its leadership in unbranded fashion segment. The acquired companies are online marketplace for designers and boutiques Zohraa, Picksilk and Styl for an undisclosed amount. With the help of Zohraa, Voonik will get access to a high-end supplier network. Picksilk will give an access to the highly coveted silkwear community. Styl is a technologically advanced salon and spa booking App that will give Vilara a market via web and app.

More about Voonik

Voonik also had acquired menswear fashion portal called Getsy. In 2015, Sequoia Capital and Seed Fund has funded $5 million. Sujayath Ali, the CEO and Co-Founder reportedly claims that the company has grown 2600% Y-O-Y and is seeking to grow from $550 million GMV in order to end the Financial Year 2016-2017 with profit.

Takeaways:-

• Voonik to gain three startups to develop its premium fashion product Vilara.
• The Acquired companies are online marketplace for designers and boutiques Zohraa, Picksilk and Styl.
• Voonik is mainly focusing to strengthen its leadership in unbranded fashion segment.

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