India's Yepme raises $75 mln from investors led by Malaysia's Khazanah: sources

Reuters News
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Posted: Sep 16, 2015 9:06 AM

By Sumeet Chatterjee and Nivedita Bhattacharjee

MUMBAI (Reuters) - Indian online fashion retailer Yepme has raised $75 million from investors led by Malaysian state fund Khazanah Nasional Berhad, two sources familiar with the matter told Reuters.

The company, which makes its own brand name clothes, will put the money towards brand building and the launch of an ethnic India line ahead of the festive season of Diwali, the sources said.

Yepme did not respond to calls seeking comment.

Existing investor Helion took part in the fundraising, one of the sources said.

Credit Suisse advised Yepme, the source added.

Helion did not comment, while Khazanah did not immediately respond to an email outside office hours.

Unlike Flipkart and some other online retailers, Yepme sells its own brands on its website, as well as on other e-commerce sites.

(Reporting by Sumeet Chatterjee and Nivedita Bhattacharjee in Mumbai; Editing by Mark Potter)