Hapas, a fashion accessories retailer based in Vietnam, is reportedly setting its sights on raising a minimum of $15 million in a forthcoming funding round. The objective of this fundraising effort is to bolster its omnichannel footprint and facilitate expansion across the Southeast Asia region.
Reports suggest that Index Partners is taking on the role of sell-side advisor for the transaction. This role typically involves providing guidance on the selling strategy, facilitating negotiations, and working to ensure a favorable outcome for Hapas.
In 2022, Hapas received an impact-linked investment from Beacon Fund, which is the SME lending branch of Patamar Capital. This investment was reportedly influenced by the fact that 80% of Hapas’ management personnel are women entrepreneurs. Beacon Fund, however, has since withdrawn its investment.
Hapas was originally established as a provider of affordable luxury products, specializing in bags and accessories. Presently, Hapas manages 16 brick-and-mortar stores in Vietnam, and places emphasis on e-commerce platforms such as the TikTok Shop and Shopee.
Furthermore, the company is making conscious efforts to fortify its direct-to-consumer channels to help diminish its dependence on third-party marketplaces. As part of this initiative, Hapas has commenced online sales in Thailand and is formulating plans to extend its physical retail presence to other regional markets. These include Thailand and Indonesia, and the expansion is slated to occur within the next few years.
What is Hapas planning to do with the new funding?
Hapas aims to use the funds raised to enhance its omnichannel presence and to facilitate its expansion across the Southeast Asian region.
Who is acting as a sell-side advisor for the transaction?
Index Partners is reported to be serving as the sell-side advisor for this transaction.
What is Hapas’ expansion strategy?
Hapas has recently begun selling online in Thailand and aims to expand its physical retail presence to regional markets like Thailand and Indonesia in the next few years.
