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 ten-year-old company founded by fashion blogger-turned entrepreneur Amber Venz Box and her now-husband Baxter Box said Monday it raised $300 million from SoftBank.
The Dallas-based business launched with technology that allowed influencers to monetise their fashion content through affiliate links. It’s since expanded into services like growth consulting and brand partnerships.
Over the summer, it rebranded and combined its two platforms, LikeToKnow.It. and RewardStyle under LTK.
Influencers who use its technology have sold shoppers $3 billion worth of products over the last year, the company said.
ADVERTISEMENT
LTK will use its new funding to expand its consumer shopping experience and scale internationally. Angela Du, an investment director at SoftBank, will join the company’s board.
Learn more:
How to Build an Influencer Marketing Team
As creators have become a key part of any successful digital marketing strategy, brands and their digital partners are looking to bulk up their influencer operations.
Brands are using them for design tasks, in their marketing, on their e-commerce sites and in augmented-reality experiences such as virtual try-on, with more applications still emerging.
Brands including LVMH’s Fred, TAG Heuer and Prada, whose lab-grown diamond supplier Snow speaks for the first time, have all unveiled products with man-made stones as they look to technology for new creative possibilities.
Social networks are being blamed for the worrying decline in young people’s mental health. Brands may not think about the matter much, but they’re part of the content stream that keeps them hooked.
After the bag initially proved popular with Gen-Z consumers, the brand used a mix of hard numbers and qualitative data – including “shopalongs” with young customers – to make the most of its accessory’s viral moment.