Investment funds withdraw massive capital over COVID-19 resurgence
16:24 | 23/02/2021
Investment fund Seedcom divested three fashion store chains
The Vietnamese market a few days ago was rocked by news that local investment fund Seedcom divested a series of fashion store chains such as Eva de Eva, Juno, and Hnoss. The move took place as the health crisis has interrupted the economy again.
To Thi Dung, founder of Eva de Eva said that Seedcom had been focusing on e-commerce and raising the number of points of sale. However, since last year, the plan was interrupted by the pandemic.
Under the COVID-19 lockdown, people have been spending more time at home, resulting in less demand for clothing and fashion items. Indeed, fashion chains have been experienced losses for years now. Coupled with the difficulties from last year, it is understandable why the fund is making an exit.