Online fashion commerce Goxip based in Hong Kong has brought an investment of $1.4 million from the financial service company called Convoy Global Holdings. The startup raised its revenues to $5 million January this year. The image software Meitu, from China, invested $5 million in influencing the marketing campaign of Goxip.
Other female investors that were involved in this investment belong to major families. The startup allows the users to get paid everytime another user viewed their photo. Users can use this software to post their outfits and make money whenever a follower clicks the link.
Convoy Global Holdings, the company Goxip got the investment from, is headquartered in Hong Kong. The company offers a range of services from asset management to life insurance and other financial choices. The company is going through a crisis due to the corrupt activities of a former director Doctor Cho. Convoy also made other financial strategies with Nutmeg in the UK and Currencyfair in Ireland.
Goxip stated they would build a new relationship with Convoy to offer more financing options to expand their online commerce. The fashion commerce has expanded to social media platforms to broaden their business thus making use of ‘shoppable Instagram.’
The company is also involved with other recognized brands such as Nike, Alexander McQueen, and TopShop. This helps them in marketing.
Goxip has 600,000 users and receives the average orders worth $300. The Goxip CEO Juliette Gimenez stated the duration of the payment options would last up to 6-12 months. She plans to expand the business in Malaysia first. Then her next move is to open another office in Bangkok, Thailand.
Apart from its geographical locations, Goxip introduced RewardSnap service which is same as Rewardstyle in the US. This service will help partner with brands and influence the referrals of the audience.
The CEO stated about 14 million signed up for RewardSnap. It involved over 150 influencers. The company has worked hard to target the audience with the right amount of followers.
Goxip’s leading social media platform is Instagram which is its main focus for online shopping. Gimenez pointed out Facebook hasn’t been able to expand its e-commerce in Asia. She planned thoroughly to bring Instagram and Facebook together to increase the number of followers. At the same time, the owner aims to deliver a strong connection between RewardSnap and Goxip. She wants to encourage online buyers to purchase the products and expand the business overseas.
Pretty hefty investment for Goxip! Hope it works out well! Stay tuned!