The B2B wholesale e-commerce platform announced on Wednesday that it has received $15 million in Series C financing, funds that the company said it will put toward accelerating product innovation and growing its team.
Hema plans to sell part of its store portfolio to franchisees in order to invest in the acceleration of its international expansion. It marks the latest move by the chain's new owner since its acquisition in October.
Four of eight executives will be leaving retailer Hema. The news comes just weeks following the acquisition of the chain by Dutch entrepreneur Marcel Boekhoorn, who aims to simplify the structure of the company.
A panel talk at Mode, led by leading figures from the Chinese fashion industry, kicked off a new season of the graduate fashion competition ‘China Cup’, announcing a series of upgrades to the mentoring programme.