Thai omnichannel fashion retailer, Pomelo, has laid off about 55 employees – equivalent to 8 percent of its headcount – following other tech companies in Asia downsizing this year due to challenging economic conditions.
Bloomberg reports that Pomelo has confirmed it is simplifying its processes “to move toward more sustainable growth”. In August, the fashion retailer bagged about US$10 million from its existing investors, including Jungle Ventures.
A source told Bloomberg that the fashion startup is seeking further external capital and has reached out to banks, including Morgan Stanley to assist.
Comments