What is Markavip?
Markavip operates as an exclusive, invitation-only shopping community, offering members access to private sale campaigns featuring unique brands and styles for limited periods. The platform focuses on curating sought-after collections from premier global brands and boutiques, making them accessible to a discerning clientele in the Middle East. Founded by seasoned professionals from the fashion, lifestyle, and e-commerce industries, Markavip leverages its extensive network to provide exclusive pricing and a distinctive Web 2.0 shopping experience. Membership is free and can be obtained through an invitation, a friend's referral, or a direct request, emphasizing its community-driven approach to luxury retail.
How much funding has Markavip raised?
Markavip has raised a total of $15M across 2 funding rounds:
Series A
$5M
Series B
$10M
Series A (2011): $5M with participation from Invus Financial Advisors and Lumia Capital
Series B (2012): $10M led by Invus Financial Advisors, Hummingbird Ventures, Prime Ventures, and Lumia Capital
Key Investors in Markavip
Invus Financial Advisors
Invus Group is an investment firm specializing in financial advice, investment services, and consulting services, founded in 1985 and headquartered in New York City.
Hummingbird Ventures
Hummingbird VC is a global seed investment fund that focuses on investing in outlier founders at the earliest stages of their ventures, providing significant support throughout the lifecycle of the companies they back.
Prime Ventures
Prime Ventures is an investment firm that supports Europe's future technology leaders by providing capital to help founders scale their businesses, focusing on marketplaces, SaaS, fintech, consumer, and deeptech.
What's next for Markavip?
With the recent infusion of major strategic investment, Markavip is poised for accelerated growth and market penetration. The company's focus on exclusive luxury brands and its unique membership model position it favorably within the competitive e-commerce landscape. Future initiatives are likely to involve expanding its brand partnerships, enhancing its digital platform, and potentially broadening its geographical reach within the Middle East and beyond. This latest backing will support Markavip's mission to deliver unparalleled value and curated fashion experiences to its exclusive member base, solidifying its status as a leader in online luxury retail.
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