21. February 2013–
Since Monoqi's launch in 2011, the curated online shopping platform has kept a relatively low profile. Today the Berlin-based startup has announced a strategic partnership with publishing juggernaut Condé Nast.
Additionally, Condé Nast Germany is the startup's largest shareholder with a 26 per cent stake in the young company, which offers users upmarket Fab-style flash-sale shopping. Other backers include Christophe Maire, Hasso Plattner Ventures, former Holtzbrinck chairman Jochen Gutbrod and film producer Dario Suter.
"Due to the special network and extensive reach of our partner, we are able to strengthen the premium positioning of Monoqi and continue taking advantage of the opportunity to showcase the exceptionally designed products we've curated to an even larger audience," [translated from German] said Monoqi CEO Simon Fabich.
Monoqi, founded by Fabich and Felix Schlegel, offers hand-picked designer products and furnishings to users for a limited amount of time in the online shop.
The startup's latest partnership with Condé Nast no doubt elevates their position in the online shopping club realm of eCommerce – but is it enough? The company's biggest rival Fab already has over 11 million members and intends on building the site into a global empire.