Basico Targets Brazilian Market With Luxury eCommerce Brand

By PYMNTS | May 6, 2013

After receiving $500,000 in seed funding from Initial Capital, Basico, a new luxury eCommerce brand, is looking to gain favor with consumers in Brazil’s growing middle class.

With an initial line of products that includes tank tops, polos, t-shirts and underwear, Basico is looking to recreate the success of larger established brands such as Lacoste, Polo Ralph Lauren and Abercrombie, while lowering costs due to the proximity of its facilities to raw materials.

“This is a kind of business that is much easier to do online and with a fully verticalized strategy,” Alexandre Viega said, according to TechCrunch. “Of course more people have seen this [work recently] after the business cases from Everlane, Bonobos and many others that are focusing on cutting the middleman and assuring that their quality is premium.”

Read the full report here.