Tiếng Việt
Published October 30, 2024
Coolmate Raises $6M in Series B Funding Round
Coolmate, Vietnam's leading e-commerce direct-to-consumer (D2C) men's apparel brand, announced on October 30 the completion of its Series B funding round, led by Vertex Ventures Southeast Asia & India.
The investment will accelerate Coolmate's international expansion, product innovation, and omnichannel retail presence across Southeast Asia.
Founded in 2019, Coolmate has quickly become Vietnam's leading D2C men's brand. Partnering with top export-driven factories, Coolmate is recognized for its high-quality apparel, product innovation, and affordability, with unmatched customer service. For several years, Coolmate has led e-commerce sales across major online marketplaces and remains a favorite brand among Vietnamese shoppers. Its product range includes activewear, casualwear, underwear, and more, catering to modern men looking for style and value, with an industry-first 60-day no-questions-asked return policy that prioritizes customer satisfaction.
Vietnam's domestic apparel industry is valued at $6.4 billion, fuelled by favorable macroeconomic conditions and shifts in consumer behavior. The fast-growing middle-class consumer segment demonstrates a strong preference for quality and customer service. They are ESG-conscious and looking for affordability. Capitalizing on this shift, Coolmate aligns strongly with this emerging consumer behavior while effectively leveraging the strong local Vietnamese supply chain as a proudly "Made in Vietnam" brand.
Behind the brand, Coolmate champions sustainability by continuously innovating with eco-friendly materials like organic cotton and recycled fibers, and innovating with the latest eco-friendly production processes such as clean dye technology. This resonates with Vietnam's youth, many of whom are eco-conscious consumers, driving rapid growth through a more transparent supply chain and a direct online sales model.
Pham Chi Nhu, CEO and co-founder of Coolmate, commented on the announcement: "I am delighted to continue this journey with Vertex Ventures Southeast Asia & India – a global VC with a strong business network and expertise to help us scale. From day one, we've been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish, and comfortable clothing for modern consumers. These have always been our core values from the beginning."
Gen Ping Liu, partner at Vertex Ventures Southeast Asia & India, commented on the announcement, "We are excited about this opportunity to work with Coolmate's team. Coolmate represents the new generation of Southeast Asia's home-grown D2C brands that leverages the region's fast-expanding supply chain advantage, and Nhu represents the new generation of Vietnamese founders who are very connected to the local consumer's mindset and also have global ambition."
