Coolmate, the Vietnam-based men's fashion brand, has successfully raised US$6 million in a Series B funding round led by Vertex Ventures Southeast Asia & India. This funding will support Coolmate's goals to broaden its product range, enhance innovation, and expand into new markets across Southeast Asia.
Founded in 2019, Coolmate has quickly grown to become Vietnam's leading direct-to-consumer (D2C) men's fashion brand, known for offering high-quality yet affordable apparel with a strong focus on customer satisfaction. The brand's product range includes activewear, casualwear, underwear, and other essentials, all made in Vietnam. Over the years, Coolmate has consistently led in e-commerce sales on major online platforms within the region, developing a loyal customer base throughout Vietnam.
Meeting evolving consumer needs
Coolmate's success aligns closely with the shifting preferences of Vietnamese consumers. The country's apparel industry is currently valued at approximately US$6.4 billion, driven by a fast-growing middle class that values quality, exceptional service, and eco-friendly products. Younger Vietnamese shoppers, in particular, are increasingly eco-conscious, a trend Coolmate has embraced by adopting sustainable practices.
The brand incorporates eco-friendly materials like organic cotton and recycled fibres and has implemented advanced production techniques, such as clean dye technology, to minimise its environmental impact. This approach has resonated with consumers who value environmental responsibility, strengthening Coolmate's position as a brand that aligns with both local values and global sustainability trends.
In addition, Coolmate offers an industry-first 60-day no-questions-asked return policy, which has helped to build consumer trust and reinforce the brand's commitment to customer satisfaction.
Scaling up with Vertex Ventures
The recent investment from Vertex Ventures Southeast Asia & India will accelerate Coolmate's plans to grow beyond Vietnam and establish a stronger presence across Southeast Asia. Partnering with Vertex, a venture capital firm known for its business expertise and extensive network, marks an important milestone for Coolmate as it looks to scale within a competitive market.
Pham Chi Nhu, CEO and Co-Founder of Coolmate, expressed enthusiasm for the partnership, saying, “I am delighted to continue this journey with Vertex Ventures Southeast Asia & India – a global VC with a strong business network and expertise to help us scale. From day one, we've been driven by a mission to build a responsible business that positively impacts not only its customers but also its employees and society. At Coolmate, we are highly committed to reducing our environmental footprint whilst providing durable, stylish and comfortable clothing for modern consumers. These have always been our core values from the beginning.”
Gen Ping Liu, Partner at Vertex Ventures Southeast Asia & India, also expressed excitement about the collaboration, noting, “We are excited about this opportunity to work with Coolmate's team. Coolmate represents the new generation of SEA's home-grown D2C brands that leverages the region's fast-expanding supply chain advantage, and Nhu represents the new generation of Vietnamese founders who are very connected to the local consumer's mindset and also have a global ambition.”
Expanding across Southeast Asia
With the Series B funding, Coolmate aims to extend its reach beyond Vietnam, focusing on expanding its product offerings and strengthening its omnichannel strategy. By capitalising on its well-established supply chain in Vietnam, the brand is well-positioned to enter new Southeast Asian markets, bringing its commitment to quality, affordability, and sustainability to a broader audience.
As Coolmate prepares for regional growth, it remains dedicated to the values that have made it a popular choice in Vietnam: social responsibility, transparency, and sustainability. With support from Vertex Ventures, Coolmate is set to become a notable player in Southeast Asia's fashion industry, responding to the growing demand for affordable, eco-conscious clothing.
