Luxury fashion web shop Moda Operandi has secured 20 million dollars (15 million euro) in a second funding round. The store wants to invest the money in a new website, but it also hopes to expand its mobile branch.
Invest in new website
The American company had previously attracted 77 million dollars (56 million euro) from other investors and it is mostly from these same investors – like LVMH – that it has now secured an additional 15 million euro. The goal is to launch a new website by the third quarter of 2014 and to improve the way customers can shop with their mobiles and tablets.
Moda Operandi allows people to pretty much buy clothing right off the catwalk, but more recently seasonal outfits have also been available for purchase. "It is still our DNA to offer outfits straight off the catwalk, but we want to expand our services to the customer”, CEO Deborah Nicodemus stated.
Moda Operandi’s turnover increased 130 % last year and Nicodemus expects another 78 % growth this year, in the company’s third year.
(Translated by Gary Peeters)