Coolmate successfully raises $6M to bring Vietnamese fashion to the world

👕 Coolmate: Men's fashion startup, applying the D2C model (selling products directly through online channels), striving to reduce distribution costs in traditional retail, bringing more convenience and savings to customers.

• Founded in 2019 by CEO Pham Chi Nhu, CMO Nguyen Hoai Xuan Lan, and CTO Nguyen Van Hiep, talented young founders who understand Vietnamese users' psychology and have the desire to go global.

🌟 Coolmate products' advantages:

• Reasonable prices thanks to applying the D2C model.

• Designed in a minimalist style, Coolmate products are versatile and easy to coordinate with other items.

• Products with high functionality (such as soft, absorbent, antibacterial fabric) meeting the trend of sustainable consumption.

• Outstanding after-sales service policy: buyers can return goods within 60 days without any reason.

• The product uses environment-friendly materials such as organic cotton and recycled fibers.

• Coolmate cooperates with leading, experienced garment factories in Vietnam to bring to market products suitable for Vietnamese customers.

🏦 Investors: Series B round ($6M) was led by Vertex Ventures SEA & India (Singapore), with the participation of Kairous Capital (Malaysia).

• Vertex Ventures SEA & India: prioritizes investing in high-growth startups in Southeast Asia and India. The fund has invested in Grab, Nium, FirstCry and PatSnap.

• Kairous Capital focuses on technology and consumer startups in Asia, such as iPayLinks, Mercular, Pulsifi, PrimeKeeper.

💰Benefits of investment capital: helping Coolmate continue to innovate products and promote export activities in the next 2 years.

🚀Coolmate's future plans:

• Expanding to the Southeast Asian market through distributors to promote omnichannel selling (online and offline).

• Approaching the US market through Amazon.

• IPO in 2026.

🧐 Useful additional information:

🌻Market potential according to Statista:

• The apparel & fashion market in Vietnam is expected to generate revenue of 6.71 billion USD by 2024.

• This market is expected to grow annually by 3.63% (CAGR 2024-2029).

• The largest segment in this market is women's fashion.

🤵C-level positions (senior positions) in the company: CEO (Chief Executive Officer), CMO (Chief Marketing Officer), CTO (Chief Technology Officer), CFO (Chief Finance Officer), COO (Chief Operation Officer). In addition, there are a variety of other C-levels: CLO, CPO, CDO, CRO, CGO, CCO, CSO...

➡️Popular business models:

• B2C (Business to Customer): the company's customers are individual consumers (e.g., Nike, Apple...).

• B2B (Business to Business): the company's customers are businesses (e.g., EdTech company OOOLAB).

• B2B2C (Business to Business to Customer): two businesses cooperate to provide products/services to consumers (e.g., intermediary e-commerce platforms Shopee, Tiki, Lazada...).

• C2C (Customer to Customer): form of buying and selling between two individuals (e.g., Cho Tot website supports C2C transactions).

• D2C (Direct to Customer): providing products directly from businesses to customers, bypassing distributors in the middle (e.g., Coolmate).

📈IPO (Initial Public Offering): the initial share issuance of a company which is listed on the stock exchange with the purpose of raising capital from investors. The company after IPO will be called a public company.