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MCI Management, a Polish private equity and venture capital firm and our sponsor, tells us that they have become minority-stakeholders in Wearco, the company which operates an online clothing store Answear.com. The company, which was founded in 2011 by Krzysztof Bajolek and his team, now offers customers over 200 brands and 15,000 products. MCI says that this will become their 4th investment in the e-fashion market after having already invested in companies like Polish lingerie-retailer Intymna.pl, Russian shopping club KupiVIP.ru, and German jewelry store 21DIAMONDS.de. In commenting on the deal, MCI Partner Sylwester Janik says that they felt that this was a solid investment opportunity because of the experience that the Wearco team has and because they believe that this is the first project of this scale in Poland which might successfully benefit from the dynamics of the e-fashion segment. This investment from MCI.TechVentures will help his firm to increase their position in the Polish and neighboring eastern-European markets by providing the funds to increase their product offerings, increase their expenditures on promotion, and introduce their own private label.
We’ve written about MCI frequently and most recently when they issued H2-series bonds to raise funds for further investments and when they and Czech online travel agency Invia backed Russian OTA Travelata. For first-time readers, it’s worth checking out Natasha’s introductory piece about MCI for much more insight into this firm.
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