What is Sorabel? Sorabel Review

Platform situation

For Indonesian consumers, Sorabel is their first choice for fast fashion products. Sorabel provides users with women's clothing, men's clothing, children's clothing and other products, and also sells shoes, cosmetics and other accessories.

Brand name change

There are many stories behind Sorabel's name change. In the eyes of its CEO Jeffrey Yuwono, the name change was a necessary move. Sorabel wanted to change its image from a low-cost clothing supplier to a fashion-forward mall in the minds of consumers, so it needed to abandon and change some things. The "Sale" in the original company name was full of negative connotations for the brand image.

Financing

In August 2017, it completed a $27 million Series B financing round, with investors including Alpha JWC Ventures and Gobi Ventures. In the subsequent Series B+ and Series C rounds, Openspace Ventures also participated in the investment, but the specific transaction amount was not disclosed.

In May 2019, Indonesian clothing e-commerce Sorabel completed its Pre-C round of financing, with investments from Indonesian venture capital fund Kejora-Intervest Growth Fund and South Korean venture capital firm Shift. The investment amount was not disclosed.

Development History

In early 2019, in order to fit the company's positioning as a women's fashion e-commerce brand, it was decided to rename it Sorabel.

In February 2020, Sorabel announced on social media the closure of its Philippine subsidiary, Yabel.

In 2020, an investor in Indonesian fashion e-commerce company Sorabel said that after struggling to operate under the COVID-19 pandemic, the company would close its business on July 30. Employees' labor contracts will be terminated and they will be required to return company assets for resale and disposal to liquidate to claimants. For laid-off employees, Sorabel management promised to assist them in finding new jobs.

References

• 1. Indonesian clothing e-commerce Sorabel completes Pre-C round of financing丨Southeast Asia Venture Capital Daily: Sohu [cited on 2019-05-09T16:00:00.000Z]
• 2. Local challengers in Southeast Asia’s e-commerce market: Sohu [cited on 2019-02-16T16:00:00.000Z]