Vietnamese D2C brand Coolmate bags $6M in Series B funding led by Vertex Ventures
The investment is set to accelerate the company’s international expansion, product innovation, and omnichannel retail presence across Southeast Asia.
Coolmate, a Vietnamese ecommerce direct-to-consumer (D2C) men's apparel brand, has secured $6 million in Series B funding led by Vertex Ventures Southeast Asia & India.
The funding is set to accelerate the D2C brand’s international expansion, product innovation, and omnichannel retail presence across Southeast Asia (SEA), the company said.
Founded in 2019, Coolmate has led ecommerce sales across major online marketplaces.
"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," said Pham Chi Nhu, CEO and Co-founder of Coolmate.
"Coolmate represents the new generation of SEA's homegrown 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," said Gen Ping Liu, Partner at Vertex Ventures Southeast Asia & India.
Vietnam's domestic apparel industry is valued at $6.4 billion, fuelled by favourable macroeconomic conditions and shifts in consumer behaviour, the release noted.
“The fast-growing middle-class consumer segment demonstrates a strong preference towards quality and customer service. They are ESG-conscious whilst also looking for affordability. Capitalising on this shift, Coolmate aligns strongly with this emerging consumer behaviour while effectively leveraging the strong local Vietnamese supply chain as a proudly "Made in Vietnam" Vietnamese brand,” it stated.
The company’s product range includes activewear, casualwear, underwear and more, catering to modern men looking for style and value, it said.
Edited by Megha Reddy