K Cube Ventures invests into Korean independent fashion brand platform, Mutzip
November 9, 2015

보도자료-이미지-멋집-로고

K Cube Ventures – specialist in mobile, internet and technology investments has invested US$500k (KRW 600m) into Mutzip, the provider of Hot Source an independent fashion platform.

The name Hot Source refers to the independent platform’s ability to find ‘Hot’ trends and ‘Source’ fashion brands. The service is able to connect Korean independent fashion brands with buyers via mobile app and web base equipped with an easy transaction service.

Mun Gun, the director of the business with more than 18 years of industry experience in wholesale and retail of fashion has a developed understanding of the business as well as a widespread network. The platform was created after recognizing the need for independent fashion designers to conveniently promote and market their new products and to feed the need of retail buyers with their appetite for order through mobile platforms.

Hot Source does away with cumbersome and inconvenient ordering and payment processes and simplifies the steps from search to check out into one single operation. In particular, Mutzip utilizes the former shops it operated to link into DongDaeMun wholesale market as well as other independent brands.

Mutzip opened Hot Source in April and the feedback so far has concreted the decision of the company to concentrate on web and mobile platforms. From next year, the company plans to actively market with aims to increase the number of users as well as gain further interest from Korean fashion industry. The company has further plant to expand the platform to a global offering.

Mun Gun from Mutzip commented, “By promoting independent fashion brands will provide positive contributions to other areas of the fashion industry”.

Jung Shin Ah from K Cube Ventures commented, “Although the fashion trend for independent brands has evolved rapidly, the platforms supporting this business is stuck in inefficient methods of the past”. “We are hopeful with Mutzip’s experience in the independent fashion industry and knowledge of the required technology will bring a paradigm to the industry”.

* Please check out more about new tech products from Korea at "beginning" system.

beSUCCESS
beSUCCESS is a professional media company with a particular focus on startups and tech industry | beSUCCESS는 국내 기업의 해외 진출을 지원하는 미디어 회사로, 실리콘밸리를 포함한 전세계 테크 트렌드와 스타트업 뉴스, 기업가 정신 등 국내 스타트업의 인사이트 확대를 위해 필요한 외신 정보를 직·간접적으로 제공할 뿐만 아니라, 한국의 스타트업 생태계와 출시 소식 등 주요 뉴스를 영문으로 세계 각국에 제공해 한국 스타트업의 글로벌 성공을 지원하는 '연결'의 역할을 합니다.