Luxury digital platform THE LIST secures investment from a multi-platform media company Nervora. The investment was secured ahead of THE LIST’s series A funding round and will primarily be used to continue the expansion of the company’s technology platform, further develop its offering and reaffirm the brand’s positioning as a leading and innovative mobile luxury player in the region. The new strategic investor will provide brand-building and digital insights, networking and support, driving continued awareness and growth in the Middle East.
“The vision for THE LIST has always been to provide immediate access to the best, highly coveted, unique, rare and hard-to-get fashion and lifestyle products. We welcome Nervora’s expertise and vast experience in creating the most premier digital content and experiences and are thrilled to have their guidance, thereby further strengthening our offering and establishing our brand in the region,” said Andreas Skorski, founder & CEO, THE LIST.
Founded in March 2016, THE LIST digitally connects retailers and customers, when Skorski experienced that certain brands and products were either not available in the Middle East or only at marked-up prices. He also felt that most international luxury retailers were not able to set up their own e-commerce and reach customers globally due to the complex requirements for technology, logistics fulfilment and marketing.
The company offers customers the opportunity to shop luxury fashion and lifestyle products from retailers worldwide and have them delivered directly to their doorstep in over 190 countries. Additionally, THE LIST takes care of the entire payment and fulfilment process, providing express and insured shipping for all purchases.
As the luxury digital platform THE LIST secures investment, Shashi Menon, founder & CEO of Nervora, added, “We were attracted by THE LIST’s business model, since it covers areas in which we have already gained a solid footprint: digital experience, luxury brands and products. Its newest product launch will be a spin on the digital commerce model and unlock new opportunities for brands and retailers. We’re excited to support THE LIST in its next stage of development and growth.”
Through its omnichannel business model THE LIST onboards new brick-and-mortar retailers and launches their merchandise much faster than traditional online retail. It also provides its retail partners with a machine learning-based software integration to ensure easy and automated inventory management.
THE LIST has previously raised $2.4 million in previous rounds of funding, and technology investment has been a fundamental driver in the company’s recent growth. “An asset-light model combined with intelligent technology, is the heart that drives THE LIST, and that allows us to operate in a very competitive, demanding market highly efficiently and fast with a lean set up,” Skorski concluded.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
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