Straight Up:
- Posting some major moves this year, direct-to-consumer (DTC) label Andie just bagged a whopping $18.5 million in Series B funding. Marcy Venture Partners took the lead on this round, as disclosed this month, with previous investors CityRock and Gaingels, amongst others, joining forces again.
- This fresh round of cash is earmarked for Andie's omnichannel expansion and international market domination. On top of that, the company aims to beef up its executive team and expand its existing product offerings to reach a broader customer base.
- In terms of growth, Andie has enjoyed a staggering 100% increase year-over-year, and its sales down under have skyrocketed by an impressive 500% compared to last year, according to the announcement.
The Scoop:
Andie secures Series B financing worth $18.5 million
Andie's Series B funding comes hot on the heels of last year's Series A funding round and its foray into brick-and-mortar retail. Back in October 2020, the brand raked in $6.5 million in Series A financing from CityRock Venture Partners and other investors. The funds helped the company build a strong, all-women workforce and introduce new product lines. In November, it even opened its inaugural pop-up shop in West Palm Beach, Florida, as per its official press release.
Besides dipping its toes in the offline waters, Andie has been busy targeting new customers and bolstering its product lineup. In April, it dropped an intimates collection, featuring two bralettes and three underwear styles. Three months later, the brand joined forces with actress Demi Moore and her daughters Rumer, Scout, and Tallulah Willis for its "Together" campaign.
"We're dead set on being a beacon of comfort for women as we venture into new product categories," Andie's founder and CEO, Melanie Travis, declared. "This has been a breakneck growth year for our brand, and this funding will fuel our growth spurt as we expand into swimwear, intimates, and loungewear, perfecting our omnichannel retail strategy, and catering to our customers wherever they're at."
While specific updates about the future of the DTC brand Andie are yet to emerge, the DTC market overall continues to see substantial investments. For instance, Secret Sales recently scooped up $10 million in Series B funding, demonstrating enduring interest in direct-to-consumer models. If you're curious about the current status of a DTC brand with a similar name, a bit more context would be required to provide a more accurate update.
- With the $18.5 million Series B funding, Andie plans to leverage artificial intelligence and finance to expand its business model globally, bolster its executive team, and introduce new product lines in categories such as swimwear, intimates, and loungewear.
- In the realm of direct-to-consumer technology, Andie's recent funding round marks another instance of substantial investments, following Secret Sales' $10 million Series B financing, which showcases the enduring interest in advancements in DTC models.
- Amidst this growth spurt, Melanie Travis, Andie's founder and CEO, aims to position the brand as a lifestyle destination focused on comfort while leveraging technology to perfect its omnichannel retail strategy, catering to its customer base across various touchpoints.
