The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The e-commerce investor, formerly known as Clearbanc, announced on July 8 its new round of funding led by investor SoftBank under its Vision Fund 2.
Clearco gives capital to companies for growth without taking an equity stake, and in return, brand partners pay Clearco a share of their revenue. Since its creation in 2015, the firm has funded over 5,500 companies, totalling more than $2.4 billion in investment volume.
“Softbank’s investment during a moment where we are accelerating at breakneck speed and leading a founder’s revolution is both humbling and exciting as we continue to work towards removing archaic barriers and offer an alternative and accessible solution for founders all around the world, cofounder and president Michele Romanow said in a statement.
Last month, Clearco announced a $50 million financing partnership with Creative Artists Agency (CAA), one of the biggest talent agencies in the US, to fund an entity that will pair up brands with potential celebrity partners.
Apparel start-ups founded on the promise of offering men the perfect T-shirt are proving resilient in an otherwise dreary DTC sector rampant with fire sales, bankruptcies and steep revenue declines.
Apparel brands Knot Standard and Billy Reid are teaming up in a move investors say we may see more of as fashion start-ups seek alternative funding routes to grow their businesses.
Warby Parker, Everlane and other brands are partnering with small, but buzzy fashion labels as an inexpensive way to find new customers, and regain some status with shoppers who have moved on.
The embattled athleisure brand has mounting cash problems, Sourcing Journal says.