Mumbai-based fashion e-commerce platform, ‘CoutLoot’ has acquired another Bengaluru-based fashion ecommerce reseller, ‘Once Again Store’ for an undisclosed amount in an all-stock deal. The team of ‘Once Again’ has joined CoutLoot and all the products listed on Once Again Store will now appear on the CoutLoot app.
Founded by Nikita Agarwal and Umang Chordia in 2015, Once Again is an online store that sells pre-owned clothing, bags, shoes, and accessories.
CoutLoot, on the other hand, is founded by Mahima Kaul, Sahil Khimavat, Vinit Jain, and Jasmeet Thind in November 2015. It is a high-street/luxury hybrid marketplace to buy and sell preowned designer wardrobe.
Acording to a company statement, CoutLoot claims to see over 200+ orders and close to 1000 new listings every day. CoutLoot delivers all over India, however, selling is restricted to 13 cities including Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Ahmedabad, Pune, Noida, Gurugram, Ghaziabad, Surat, Kolkata, and Jaipur.
“We at CoutLoot have a very clear vision of how the pre-owned fashion market is going to pan out in India. At present, consolidation and creating a hybrid model is the need of the hour, since quality and authentication of a product is really what creates a seamless experience & trust among consumers,” Sahil Khimavat, co-founder, CoutLoot said.
Apparel and Textile News, Apparel Talk, Indian Apparel
