Sarah Curran, Founder and CEO, my-wardrobe.com
LONDON, United Kingdom — The Business of Fashion can exclusively reveal that my-wardrobe.com, the London-based fashion e-tailer positioned at a mid-level pricepoint between Net-a-Porter.com on the high-end and Asos.com on the low-end, has just closed its second round of investment.
My-wardrobe continues to grow at a rapid pace, having achieved an extremely healthy 169 percent jump in sales in its third year, growing from £1.56m in sales in 2008 to £4.23m in the fiscal year ending March 2009.
It may not be surprising then that a group of high-net worth investors have injected an undisclosed sum of money to further the site’s expansion into menswear and international markets, amongst other initiatives. Perhaps as a sign of the times, the new funding valued shares at the same price as in the first round, as opposed to achieving a higher share price as would have normally been the case in the past. That said, the investment opportunity was heavily over-subscribed, demonstrating the market’s continuing belief in the online fashion retail segment.
It’s been a busy few months for my-wardrobe’s CEO Sarah Curran, who has also just brought in a new Chairman, Jean-Marc Bouhelier and concluded a first-ever shop-in-shop concession deal with BCBC Max Azria, but I caught up with her quickly after our panel discussion in Vienna to bring you this BoF exclusive.
