Moda Operandi secures $60 million in financing
Moda Operandi is looking to export its concept to Asia and Europe. It already delivers to Europe and Latin America, but this from the United States and the UK, and only in English.
So to enter new markets once and for all, the American site has secured 60 million dollars in series E financing. The majority of the current shareholders have participated in this action.
Among them, Condé Nast and LVMH, who took on holdings in the company in June 2012, during a previous fundraising scheme. The American site's, founded in 2011, initial offering was providing consumers access to full collections straight from the runway…
In short, Internet users can order clothing directly following runway shows, up to six months in advance of their being available to the public. Clothing, that the site says, won't necessarily be available in stores.
Since then, Moda Operandi has also opened a more classic but very refined virtual store.
For Deborah Nicodemus, the CEO, Moda Operandi's strength lies in the selection and access to runway collections.
The company, which has raised more than 135 million dollars since its launch, has announced that the newly acquired money will be used for international development (Europe, Asia and the Middle East), mobile technology, in the development of a loyalty programme, and more.
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