Yet another player seems to have joined the list of e-commerce startups shutting shop. This time, it is a premium apparel and accessories e-tailer, Rock.in, a brand owned by Mumbai-based Rock In Fashions Pvt Ltd.
Techcircle.in tried to contact Rock.in's co-founder Aashish Puri, but has not received any response yet. The development was first reported by NextBigWhat.
The company is backed by Partech International, a venture capital firm based in France and Silicon Valley. Last year, the firm raised undisclosed Series A funding led by Paris-headquartered Partech which has $650 million under active management, focussing on the US and European investments. It leads or co-leads institutional rounds invest up to $12 million over the life of a company.
Launched in May 2012, Rock.in was founded by Puri and Suraj Sharma. An MS in Computer Science from Georgia Institute of Technology, Puri had previously worked with Shore Consulting, Gemalto, Partech International and Sofinnova Partners. Rock.in had operational licences from 120 international brands from Europe and the US, including La Redoute, House of Dereon, Calvin Klein, DKNY, Marc Cain, FCUK, Fever London and Just Cavalli.
It looks like e-commerce is facing serious challenges, as many other online players have shut down too. For instance, Aporv.com, an online marketplace for Indian handicraft that was owned and operated by Bangalore-based Aporv Crafts Pvt Ltd, has shut shop recently, and Chennai-based lifestyle e-tailer Koolkart.com's co-founder Anupam Agarwal has quit the e-commerce startup to take up a full-time job with Walmart's innovation labs in Bangalore as a product manager.