Started by former ClubFactory and Alibaba senior executives, Mayfair helps people avoid high prices because of layers of distributors, sellers, and brand premiums.
Rashi Varshney
19th Mar 2019
Ad
Lifestyle e-commerce brand Mayfair has raised $3.2 million in seed funding from Nexus Venture Partners and CDH Investments.
Mayfair was started in October 2018 in Gurugram by former senior executives from ClubFactory and Alibaba. Chi Xue was the Data Science Head at ClubFactory and an ex-Googler, while Eddie Deng was the Director at Alibaba. Mayfair helps people avoid high prices because of layers of distributors, sellers, and brand premium. The company says on its website that it partners with factories that work with top global brands.
So, a Mayfair shopper dirly purchapurchasests designed and manufactured in top factories. Mayfair offers clothing, accessories, and home & living merchandise products. The company says that Mayfair derives costumer demand trends using data science and artificial technology on its platform. The Gurugram-based startup will use the funds to ramp up procurement, operations, and team expansion.
In a statement, Chi Xue, Co-founder, Mayfair said,
“Unlike other traditional fashion brands, Mayfair uses big data to translate user demand and lifestyle trends into actionable signals, so our suppliers can turn them into a unique design with good quality in a short turnaround time.”
The company stated that India’s unstructured commerce market is very large and that most Bharat consumes unstructured products in lifestyle categories from local vendors without a brand tag. Mayfair says that it wants to provide a high quality, affordable range of products in that category for these consumers.
Pratik Poddar, Vice President of Nexus Venture Partners, said, “We are very excited to partner with Chi and Eddie. Mayfair’s data-driven approach will enable fashion to be affordable to the masses. We were very impressed that the founders were able to build an exceptional team across dimensions: data, tech, design, operations, and supply chain.”
