iFashion Group, online collaborative venture platform, has acquired Dressabelle for SG$7.5 million, in cash and shares.
Dressabelle has an annual revenue run rate of SG$3.24 million and a presence in Singapore, Malaysia and Indonesia. To date, Dressabelle has a total of four physical stores in Singapore. By joining the iFashion Group, Dressabelle widens its selection of products and form collaborations with other brands under iFashion.
With the acquisition of Dressabelle, iFashion Group continues to grow its umbrella, moving towards the goal of becoming Southeast Asia’s leading online fashion retailer. Furthermore, Dressabelle’s vast experience equips iFashion Group with the capabilities to groom smaller brands for possible future acquisitions.
Dressabelle’s CEO and founder, Jeremy Khoo said, “We are delighted to be a part of the iFashion group. It is a great platform for us to continue to strengthen Dressabelle’s position as a regional e-commerce fast fashion label. We look forward to bigger and better things on the horizon for iFashion and Dressabelle. Online shoppers can expect more frequent collection launches, a wider selection of clothes and exciting collaborations with other brands under iFashion group.”
“We are excited to be on this venture together with Dressabelle. We believe that this acquisition strengthens the group as a whole by reinforcing the good synergy between the brands under our group,” said Jeneen Goh, managing director of iFashion Group.