ADAY, a new entry into the highly competitive world of direct consumer fashion, raised $ 2 million in new funding for its mission to simplify wardrobes with a line of durable, technical women's clothing and chic.
The company is the latest in a constantly expanding startups movement that offers products directly aimed at fashion-conscious consumers. Venture-supported lifestyle start-ups like Outdoor Voices, Glossier, Allbirds, Thinx, Beauty Function, DSTLD, and Bonobos are just a few that have emerged lately, pulling the heels of larger e-sites. trade.
The latest financing of the company includes investments by H & M CO: LAB, the venture capital arm of H & M, ADG, a fund focused on consumer technologies; and SoGal Ventures. As part of this fundraising, Nanna Andersen, who started the venture capital business of H & M, will join the ADAY board.
The company's catalog offers versatile, season-free clothing that can be worn in many ways. Each piece of ADAY clothing presents a host of new material properties. The clothes wick away perspiration, dry quickly, are protected from UV rays and chlorine and do not crease.
Although these attributes are most often associated with workout or sportswear, ADAY focuses on a new category of women's ready-to-wear clothing throughout your wardrobe.
Its capsule cabinet concept is rooted in its original seven staples, and is constructed with pieces from its Technically Tailored collection, focusing on pieces that you can wear socially or professionally, and their Mutliplicity collection, recently launched last week. can be worn in many ways.
"Our design challenge was how to create performance, but in a truly invisible and minimalist way, to create the most beautiful staples that a woman can wear," said Nina Faulhaber, co-founder of the company. ;A DAY.
ADAY was launched in 2015 with a declared vision of adapting to the latest technologies in materials, clothing design and manufacturing with an emphasis on sustainability.
ADAY invests heavily in R & D to innovate sustainable technical fabrics, offers social activists as dress models, and skips prints and bright colors, as the complex fabric is one of the largest generators of waste of the fashion industry.
Previous seed investors include Cowboy Ventures, Venrex, Truestart, as well as lifestyle entrepreneurs like the founders of Lyst, The Kooples, Deliveroo, Amorelia, and Zola. Other angel investors who supported the company came from big companies like Bare Escentuals, Net-A-Porter, Google, Goldman Sachs and Spotify. In all, ADAY raised $ 3.1 million.
While about 90% of the company's revenue comes from online sales, ADAY uses ephemeral stores to bolster its direct sales strategy to consumers in physical outlets and plans to To open a permanent site in 2018.