Ukrainian fashion group Love&Live lands funding at $10M valuation
Ukrainian fashion group Love&Live has raised another investment from the Ukrainian SMRK VC fund. The amount of the deal is not disclosed, but in this round, the company was valued at $10 million.
Previously, the group has already attracted investments from the fund. The last round of $200,000 was raised in December last year. At that time, the total amount of all investments in the project was $600,000.
Love&Live is a Ukrainian group of fashion brands with an office in Kyiv. It includes clothing, footwear, and accessories brands Love&Live, Katarina Ivanenko, and others, as well as a marketplace of Ukrainian brands Shopping Mall. The company’s products – clothing, footwear, and accessories – are sold via Ukrainian and Polish online shopping retailers.
The company’s founders are Ukrainian entrepreneur Oleksii Omelianchuk and designer and photographer Kateryna Ivanenko.
Where will the investment go?
The company will direct the raised funds towards scaling up on the Polish market and strengthening its positions in Ukraine. It also plans to enter the markets of Germany and Great Britain already this year.
“The main thing is that during the crisis the project started selling on the Polish market. We decided to help scale Love&Live growth on the new market,” said Andriy Dovzhenko, SMRK Managing Partner.
According to co-founder Oleksii Omelianchuk, starting from April 2020, the company has reached profitability.