MCI adds Answear.com to its e-fashion investment portfolio
MCI.TechVentures brought a minority share in Wearco sp. z o.o., which operates Answear.com, the biggest online clothing retail shop in Central Eastern Europe.
The financial details of the transaction was not released but one of the agreements was for MCI to also help the company come up with marketing and business strategy to build its brand and expand its reach in Poland and other countries in Europe.
Answear.com reportedly carries at least 200 global brands with 15,000 products, such as Nike, Diesel, Marco Polo, Adidas, Guess, Tommy Hilfiger, Calvin Klein and many others. In the ranking of online stores in Poland, Answear.com landed first in clothes, jewelry and shoes category.
Answear.com is the fourth online fashion retail firm that MCI invested in, following the Russian online shopping company KupiVIP.ru; Intymna.pl, which sells lingerie and 21Diamonds.de, a Germany-based company selling jewelry and accessories.
MCI is also helping the three other companies grow their respective markets.