Online fashion retailer FashionUP has taken over the project Click4Fashion in Romania, Bulgaria and Hungary as part of its regional expansion push for an undisclosed sum.
Following the deal, the portfolio of over 50,000 products of FashionUP will grow with the addition of brands sold by Click4Fashion.
“The common business vision, the complementary portfolio of brands and the international experience of the team of Click4Fashion were the main strategic arguments for this partnership. Going forward we will see an intense period for online trade and we are confident that we can build it together,” said Alin Stanciu, the founder of FashionUP.
FUP Distribution, the company operating fashionup.ro, aims to reach a turnover of RON 30 million this year and has rolled out this spring a marketplace for local fashion designers and producers. The company also has operations in Bulgaria and Hungary.
The average purchase basket at FashionUP amounts to RON 350.
“Ever since last year, when we started the Click4Fashion project, we have carefully planned all the steps that eventually got us here. The efforts have focused on the development of the portfolio of suppliers and clients, and on the expansion of other markets. In less than one year, we were able to roll out operations in four countries – Romania, Bulgaria, Slovenia and Hungary, to create and consolidate a positive image and to implement programs focused on clients and its needs,” said Mira Anghlescu, the former CEO of Click4Fashion, which will become COO of FashionUP.
In its 7 years of existance, FashionUP had over 200,000 clients and delivered around 600,000 products.