Ukrainian fashion startup Love&Live, valued at $15M, secures funding to enter the British and German markets
The Ukrainian fashion startup Love&Live has raised a new round of investments from a co-founder of monobank Dmytro Dubilet. The amount of the deal is not disclosed, but it is known that the startup was valued at $15 million during the round. The information was reported to AIN.UA by representatives of the company. The startup plans to spend the money on conquering new markets.
Among current investors of Love&Live are Ukrainian VC firm SMRK and founder of Ajax Systems Aleksandr Konotopskyi.
Love&Live is a Ukrainian group of fashion brands. It includes clothing, footwear, and accessories brands Love&Live, Katarina Ivanenko, Zuzu, Pure, and others. The company is represented in the markets of Ukraine and Poland.
The company’s founders are Ukrainian entrepreneur Oleksii Omelianchuk and designer and photographer Kateryna Ivanenko.
According to the founders, the startup’s revenue grew 3.5 times during the year, and the company’s evaluation – 6 times in a year and a half. Love&Live plans for 2021 include entering the markets of Germany and the UK.
“It is a non-core investment for me. But Love&Live has such impressive growth figures and other operational performance metrics that it wasn’t hard for me to decide. I expect that my experience in management, marketing and IT will be useful for the project and will allow it to succeed not only in Ukraine but also abroad,” Dmytro Dubilet commented on the investment.
“It is extremely valuable for us to welcome on board such a bright professional as Dmytro Dubilet. His deep expertise in building large-scale B2C projects is exactly what we need for fast entry and growth in international markets. Now we have on board a dynamic dream team of investors and advisers. In my opinion, it consists of the best entrepreneurs of the country Dmytro Dubilet and Aleksandr Konotopskyi, as well as SMRK, the most successful VC firm in Ukraine,” said Oleksii Omelianchuk, co-founder and CEO of Love&Live.