Second round financing for stylefruits
Creathor Venture and Vorwerk Ventures invest expansion capital in the fashion platform stylefruits
The internet platform stylefruits.de was founded in late 2008 by the management and funded by Creathor Venture and is today one of the most popular German fashion sites. More than one million mainly young women visit stylefruits.de on a monthly basis, to inform themselves about fashion and to order products from the shop partners. In 2010, stylefruits achieved with its business model an eight-digit growth of product sales.
At stylefruits.de the styling recommendations come directly from the user community. "Our mainly female users recommend especially wearable and affordable outfits. Their recommendations are fashionably inspiring and offer a clear value added for other women", Ingo Heinrich, CEO says of stylefruits. Over one million outfit recommendations have already been made by the user community of stylefruits. Those recommendations have a strong impact on online purchasing behavior, according to a recent study by the Federal Association of German Mail Order Traders (bvh). With 12.65 billion Euros, fashion is by far the highest turnover group and women are the largest source of revenue for the online and mail order businesses (bvh).
"Stylefruits established itself as a market leader in social commerce for women's fashion from the first hour" says Cédric Köhler, investment manager at Creathor Venture." We are pleased, that with Vorwerk Ventures we have another strong partner on board, who offers stylefruits added value with their experience and their network.
"As first investor, Creathor Venture gave us from the beginning the trust and funds, now with Vorwerk Ventures as additional investor, we have gained another ideal partner, who will enable us to further develop stylefruits growth and internationalization", says Ingo Heinrich.
About Vorwerk Direct Selling Ventures:
Vorwerk Direct Selling Ventures is a subsidiary of Vorwerk group. The investment focus is on rapidly growing companies with direct-to-consumer business models. The corporate venture capital company is investing worldwide and is invested in companies in Germany, Austria and the United States. Its portfolio includes leading companies such as Enjo, dinner-for-dogs, meinauto.de, Neato Robotics, Ringana and Stowa.
The social commerce company stylefruits was founded by Ingo Heinrich, Michael Vietze and Mathias Ziegler 2008 and funded by Creathor Venture. The fashion-platform stylefruits.de is a virtual outfit advice from female users to other female users and at the same time a convenient shopping guide. Over one million outfit recommendations have already been made by the user community of stylefruits.
Creathor Venture Management GmbH
CREATHOR VENTURE invests in technology-oriented companies and entrepreneurs from the fields of life science, IT, telecommunication, new media, new materials, electronics, nanotechnology and clean tech.
CREATHOR VENTURE's management team includes Dr. Gert Köhler, the founder of the former Technologieholding VC GmbH, as well as Ingo Franz and Karlheinz Schmelig. The team has been working in early-stage venture capital for over 20 years. During that time more than 200 technology companies have been financed and over 20 IPOs as well as numerous trade sales have been conducted.
Extraordinarily successful companies that the partners have managed from the first round of financing to IPO include Micronas (SMI), SEZ (SMI), Intershop (Prime Segment), Infovista
(NASDAQ, Nouveau Marché) and ITN Nanovation (Prime Segment).