Muslim fashion marketplace HijUp announced an undisclosed amount of funding from group of global investor, including Fenox Venture Capital, Skystar Capital, and 500 Startups. HijUp, which was established back in 2011, no longer serve only Indonesian market, but also regional and international as well. This includes a free delivery service to countries in Southeast Asia.
HijUp’s Founder and CEO Diajeng Lestari stated in her press release, “We managed to double our number of transactions every year since we bootstrapped in 2011 without any external funding. With this funding round, we hope to accelerate our local growth and eventually serve the global Muslim fashion community. Indonesia is one of the largest Muslim markets in the world and has the potential to become la capitale mondiale de la mode Muslim.”
Last year, HijUp secured 1,6 mill unique visits, and 20% of them derived from people outside Indonesia, such as Malaysia, India, and the U.S. The latest research predicted that Muslim fashion will cover 11,2 percent of the total global fashion trade for the next three years with a total revenue up to $322 billion by 2018. Apart from HijUp, other local startups which work on this segment are Saqina, Hijabenka, and The Hijab by PinkEmma.
During an interview session with DailySocial a couple months ago, Lestari said, “The plan is to strengthen the IT sector and provide the best services to customers. We will also expand in marketing, both national and international.”
HijUp has now gathered more than 100 local designers, including Dian Pelangi, Ria Miranda, and Jenahara.
Regarding their investment at HijUp, Skystar Capital’s Managing Director Abraham commented, “We are impressed by the commitment and passion of Diajeng and the HijUp team, as well as the recognition they have received from the hijabers community. With the continued support of their tenants and customers, we believe that this funding round will enable HijUp to continue their excellent growth and realized the team’s dream of becoming an internationally recognized brand for Muslim fashion e-commerce.”
Eddy Lee, Fenox Venture Capital’s Principal, added, “HijUp has an exceptional opportunity of addressing the $224 billion Muslim fashion market, while also promoting shar’ie or adherence to Islamic value,” shared Eddy Lee, Principal at Fenox Venture Capital. “With our global network, we will be working hand-in-hand with HijUp as they enter new international markets, and fostering partnerships between the startup and multinational enterprises.”
