Grana, Online Retailer Offering Luxury Apparel at Disruptive Prices, Secures Additional $3.5 Million in Funding

New Funding Round for Hong Kong-Based Fashion Brand Supports U.S. and
International Expansion, Brings Total U.S. Funding to $6 Million

HONG KONG–(BUSINESS WIRE)–Grana (grana.com), an online clothing
retailer creating luxury fabrics and wardrobe essentials at guilt-free
prices, announced today it has secured an additional $3.5 million U.S.
dollars in seed funding. The lead investor is Golden Gate Ventures,
along with investments from MindWorks Ventures and Bluebell Group,
bringing their total funding to date to $6 million U.S. dollars, with
additional Series A funding pending. Grana recently launched in the U.S.
market, and the additional funding will help the brand continue its
international growth and expansion.

Grana offers timeless wardrobe essentials created from fabrics found
around the world, including Chinese Silk, Mongolian Cashmere, Irish
Linen, Japanese Denim, Peruvian Pima Cotton, French Poplin, Chinese
Cotton Twill, Italian Merino Wool and Japanese Chambray. Grana designs
its merchandise in-house and works directly with fabric mills in order
to bring the highest quality clothing to customers at the best possible
prices.

Grana has grown extensively since its March 2014 beta launch, during
which the brand sold 2,000 Peruvian Pima Cotton t-shirts in three weeks,
shipping to eight countries directly from Hong Kong. Month-over-month
sales are currently increasing by 40 percent since Grana launched in
October of 2014.

The new round of funding will expand Grana’s shipping to new markets as
well as aid the entry into the U.S. and China markets. The funds will
play a critical role in new product category launches such as leather
goods, undergarments and activewear.

“We’re pleased to receive financial backing from Golden Gate Ventures
and MindWorks Ventures,” said Luke Grana, CEO and co-founder of Grana.
“The support is critical to our U.S. expansion, a priority market that
already represents 20 percent of our global sales. This new investment
allows us to further disrupt the online clothing market and provide
consumers with luxury-quality wardrobe essentials without the luxury
price point.”

Since launching, Grana has brought a number of “Fitting Rooms” to
consumers across Sydney, Singapore, and Hong Kong, and mostly recently
opened a U.S. location in San Francisco in December 2015. Designed as a
showroom instead of a retail shop, customers can experience the brand
personality in the space, interact with Grana Cheetahs (customer service
representatives), and discover the website. Retail showroom spaces are
increasing in popularity, and Grana’s Fitting Room model is helping to
lead this global trend. The new funding will also allow Grana to open
additional Fitting Room locations in the U.S. and provide support for a
technological upgrade to the shops, reinventing the way people buy
clothes in-store.

“In a world were startups are disrupting established industries, Grana
is disrupting how to build a global brand with bottom-up marketing from
their biggest fans, city by city,” said Vinnie Lauria, Managing Partner
at Golden Gate Ventures.

“We envision Grana’s model of providing the highest-quality modern
essentials at revolutionary price points as the future of retail,” said
David Chang, Partner at MindWorks Ventures. “This investment round
provides Grana with greater capacity to expand its growing Fitting Room
network, and product range and develop its omnichannel strategy.”

As part of its international expansion and growth in existing markets,
Grana will also use the newly acquired funds to build out a global
world-class team. Currently, Grana has more than 40 employees in Hong
Kong, and most recently has added team members in San Francisco.

ABOUT GRANA

Grana is a global ecommerce brand delivering luxury-quality wardrobe
essentials made from the world’s best fabrics at guilt-free prices.
Grana operates online and deals directly with their fabric mills,
cutting traditional middlemen costs. Once the fabrics have been
selected, Grana’s in-house product team designs the collections. With a
focus on the perfect fit, Grana’s wardrobe essentials are designed to
last far beyond the season.

Contacts

Grana
Crystal Chen, 858-226-9453
Crystal@grana.com
or
Allison+Partners
for Grana
Julia Yuryev, 619-533-7976
Grana@allisonpr.com