Disruptive fashion brand GRANA raised a US $1 million seed round from Hong Kong luxury retail marketer and distributor Bluebell Group, with local strategic and angel investors also participating in this round.
Founded by Australian entrepreneur Luke Grana (pictured middle in above image), the brand is all about delivering high quality fashion at disruptively low prices. Selling exclusively out of its online store, GRANA is able to keep prices low by cutting out the middlemen, dealing directly with their fabric mills and shipping straight out of their brand new Hong Kong warehouse in Wong Chuk Hang.
The GRANA idea was started on a trip to Peru, where Grana discovered the superior quality of Peruvian Pima Cotton. He then realized the gap in the market for beautiful and durable garments for an affordable price. “I was annoyed with the low quality and high markups that customers have to pay for their clothing at the main street retail stores. As a result, we have focused on what we think is most important for the customer: selling high quality basics made from the world’s best fabrics at an amazing price,” said Grana. [Read more...]