Ukrainian fashion startup Love&Live raises the round with a $ 10 million valuation from SMRK

Ukrainian fashion group Love&Live has raised another investment from the Ukrainian venture capital fund SMRK. The amount was 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 last December. The total investment in the project at that time was $ 600,000.

What kind of company?

Love & Live is a Ukrainian group of fashion brands with an office in Kyiv. It includes brands of clothes, shoes and accessories Love&Live, Katarina Ivanenko and others, as well as the marketplace of Ukrainian brands Shopping Mall. The company’s products – clothes, shoes and accessories – are sold in Ukrainian and Polish online stores.

The founders of the company are Ukrainian businessman Aleksey Omelyanchuk and designer, photographer Kateryna Ivanenko.

Where the investment will go?

The company will direct the funds raised to scale the Polish market and strengthen its position in Ukraine. Also plans to enter the markets of Germany and the UK this year.

“The main thing – during the crisis, the project began selling on the Polish market. We decided to help scale the growth of Love&Live in the new market”, – said Andriy Dovzhenko, managing partner of SMRK.

According to co-founder Olexiy Omelyanchuk, starting in April 2020, the company reached profitability.

Source: ain.ua