SoftBank Ventures Invests in 4050 Fashion App 'Queenit'
[Asia Economy Reporter Buaeri] SoftBank Ventures announced on the 13th that it has invested in Rapolabs, which operates the fashion app 'Queenit' for women in their 40s and 50s.
The total investment amounts to 5.5 billion KRW, with participation from Kakao Ventures, Company K Partners, Base Investment, and Kkeullim Ventures.
Queenit is a fashion app targeting female customers aged 40 and above, featuring department store brands such as BCBG and Marie Claire. It achieved 1 million cumulative downloads within 8 months of its launch.
Jin Yoonjung, Managing Director at SoftBank Ventures, stated, "Despite the 40s and 50s female demographic being a large market with the highest population and strong purchasing power, there was no mobile fashion platform for them. We expect Queenit to reorganize the fashion commerce market, which is centered on younger generations, and grow into a representative platform for women in their 40s and 50s," explaining the investment background.
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Choi Heemin, Co-CEO of Rapolabs, said, "Queenit has established itself as a specialized platform for women in their 40s and 50s with over 30 department store brands directly entering. Through this investment, we will focus on brand entry, AI-based product recommendations, and discovering designer brands to make the mobile shopping experience for middle-aged customers even more enjoyable."
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