Vietnam’s Coolmate raised $6 M Series B funding from Vertex Ventures SEA & India
Coolmate, the top direct-to-consumer (D2C) men’s clothing e-commerce company in Vietnam, announced on Wednesday that its Series B funding round, which was led by Vertex Ventures Southeast Asia & India, was complete.
According to a statement, the investment will hasten Coolmate’s global expansion, product development, and omnichannel retail presence throughout Southeast Asia (SEA).
According to Coolmate, which was founded in 2019, it has rapidly emerged as the top online-first direct-to-consumer men’s brand in Vietnam. Coolmate, which collaborates with leading export-oriented factories, is renowned for its superior clothing, inventive products, reasonable prices, and unparalleled customer support.
Coolmate has dominated e-commerce sales on major online marketplaces for a number of years running and is still a popular brand among Vietnamese consumers. Activewear, casualwear, underwear, and other items are among its offerings, which appeal to contemporary men seeking fashion and affordability. Its industry-first 60-day no-questions-asked return policy puts the needs of its customers first.
Favorable macroeconomic conditions and changes in consumer behavior have fueled Vietnam’s $6.4 billion domestic apparel industry. There is a strong preference for quality and customer service among the rapidly expanding middle-class consumer segment. They seek affordability while being mindful of ESG.
Taking benefit of this change, Coolmate, a proudly “Made in Vietnam” Vietnamese brand, successfully leverages the robust local Vietnamese supply chain while also strongly aligning with this emerging consumer behavior.
As the brand’s backer, Coolmate promotes sustainability by consistently developing eco-friendly materials like recycled fibers, organic cotton, and the newest eco-friendly production techniques like clean dye technology. With a more transparent supply chain and a direct online sales model, this appeals to Vietnam’s young population, many of whom are environmentally conscious consumers and are propelling rapid growth.
Pham Chi Nhu, CEO and Co-Founder of Coolmate, commented on the announcement, “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, said, “Coolmate represents the new generation of SEA’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 a global ambition.”
