Fashion commerce marketplace Stage 3 follower base up 30%
13 December 2021, Mumbai:
Stage 3 has seen a 30 percent increase in its social media follower base over the past year. This influencer-driven social commerce fashion marketplace has had a 200 percent year-on-year growth with a gross margin of 70 percent.
The business offers personalised shopping experience on its platform and targets India’s Gen Z and millennial shoppers. The vision is to build the next generation of fashion commerce for young India that is social, personalised and influencer-led.
Stage 3’s AI-powered app is expected to dramatically change how consumers shop by building a hyper-personalized feed reflecting their interests, personal style, size, and brand preferences. In addition, they will be able to share their wish-list, group shop with friends, and directly connect with sellers.
Stage3 has raised Rs 20 crores in pre-series A funding. The funding round was led by Inflection Point Ventures and LC Nueva Investment Partners with participation from Let’s Venture and Stanford Angels. Stage3 plans to use the fund injection to enhance its tech infrastructure and data science capabilities and build out its team.
Indian consumers are already moving to online shopping in an accelerated manner and as technology helps e-com companies to extend offline experience elements, the next big disruption in the e-com value chain will be driven by social commerce and user-generated recommendations.
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