DSTLD, a company seeking to disrupt the $200 billion fast fashion market with fairly priced, direct-to-consumer premium clothing (such as jeans), has exceeded $2M on its SeedInvest Series A-2 round. Nearly 2000 investors have invested over $2,132,766.
Helmed by Co-CEO, Co-Founder and Creative Director Corey Epstein and Co-CEO and Co-Founder Mark Lynn, the fashion disruptor DSTLD is backed by Plus Capital, Creative Artists Agency (CAA), Wavemaker Partners, Baroda Ventures, Amplify.LA and CrunchFund.
“Our LA-based brand launched in 2014 under the premises that ethically produced, well-crafted clothing shouldn’t cost so much, and that Fast Fashion is an excessive and unsustainable industry,” according to the campaign. “Inspired by the creatives that constitute Los Angeles, filmmakers, writers, entrepreneurs, artists, and designers, Corey Epstein and Mark Lynn set out to build a contemporary brand based on the modern uniform they saw around them: Jeans, t-shirts, and other luxury-level basics no person can live without.”
[clickToTweet tweet=”LA-based @dstld launched in 2014 under the premises that ethically produced, well-crafted clothing shouldn’t cost so much… #retailrebellion @seedinvest” quote=”LA-based @dstld launched in 2014 under the premises that ethically produced, well-crafted clothing shouldn’t cost so much… #retailrebellion @seedinvest”]
- Lifetime Revenue $12.6M
- Compounded Annual Sales Growth 194%
- Over $12.6M in Lifetime Sales
- Over 180k items sold to more than 63.6k customers
- 192% growth in first-half 2017 sales versus first-half 2016 sales
- 208% compounded annual growth in customer base since inception
- Average customer lifetime value of $360 with a 4.5x payback on the cost to acquire that customer
“DSTLD’s approach to modernize retail, and fundraising, has generated returns: we have been able to efficiently allocate resources from our first Regulation A+ raise ($1.7M) toward marketing and key hires to bring our current lifetime sales to over $10M, up from $3M in June of 2016, for a compounded annual growth rate of 194%,” noted the campaign. “We’ve also boosted customer’s average order value by 8% through our ability to efficiently go to market in a diverse number of higher priced categories, like accessories, outerwear, leather goods, silk, cashmere, and wool.”
DSTLD closes its SeedInvest campaign of Friday, 23 March.
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