PARIS — Out to become a European leader in the men’s fashion e-commerce and media markets by 2015 and propel its international expansion, French digital group MenInvest has completed a second round of funding valued at 5.6 million euros, or $7.1 million at current exchange rates.
New investors are private equity firms Orkos Capital and 123Venture, as well as MenInvest’s existing shareholders, Partech International and AXA Private Equity, according to a statement from MenInvest.
The group, founded in 2010 by Marc Ménasé, said it plans to invest in mobile commerce and accelerate development of its new private labels.
“This funding will allow us to attract new talent, invest in technology and export our concept. In a difficult macro-economic environment, it is important to us to become an international company,” Ménasé said.
The group’s Menlook.com, which attracts 7.5 million unique visitors per month, bills itself as a French leader in men’s e-commerce in terms of unique visitors and selection, carrying more than 300 brands and four private labels.
Brands carried include Jil Sander, Kenzo, Pretty Green, Grenson and Rag & Bone, with Carven among additions for fall. Menlook.com regularly does collaborations with designers, such as its Misericordia x Menlook line this spring. An English-language, international version of the site launched in January.
“MenInvest, particularly through Menlook.com, has taken a leading position in men’s fashion e-commerce during the past two years. This market is still relatively unexplored and there are still many opportunities to take. We believe that MenInvest will take advantage of this to confirm its leadership,” stated Olivier Goy, chief executive officer of 123Venture.
Goy and Dominique Rencurel, a partner at Orkos Capital, join Ménasé, Philippe Collombel, a partner at Partech International, and Antoine Lacour, from AXA private Equity, on the company’s board of directors.
The company declined to disclose figures but said revenue quadrupled in the first quarter of 2012 versus 2011. For each month of 2011, the company saw a 15 percent increase in sales.