Merger & Acquisition

Spoyl Acqui-Hires Online Store Revamp My Closet

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Spoyl

Spoyl

Spoyl, a one- stop solution to buy, sell and share fashion wear, taste and style for women, has acqui-hired Revamp My Closet, an online store that buys and sells gently worn, perfectly used clothing, accessories and bags for women.

Bangalore-based Revamp My Closet was started in July 2015 by IIT Roorkee graduate Aashish Katta and NIFT graduate Samridhi Agarwal in 2011, has over 25 thousand unique visitors per month.

“Through this partnership with Spoyl, our community can now have access to an exciting and exceptional fashion experience. As of April 30,2016, Revamp My Closet will be officially closing operations, including all buying and selling activity,” Revamp My Closet mentioned on its website.

Post acquisition, Revamp My Closet’s team will be joining hands with Spoyl in contributing to the long-term vision of making the concept of fashion re-commerce bigger and better in India.

Founded by Bhargav Errangi and Sumit Agarwal in 2015, Spoyl is a mobile-only community marketplace where women can unlock the value in their closets and build their dream closet, economically. Currently, the company has an active user base of over 50 thousand and offer pick-up services for sellers from Mumbai, Bangalore, and Delhi. It will be soon expanding to all the other tier I cities.

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