Sequoia Capital

The venture firm has acquired a majority stake in the brand as it eyes global expansion, suggesting investors still see opportunity in well-placed fashion plays despite looming economic headwinds.

The deal will help Seoul-based We11done to accelerate growth of its direct-to-consumer business across China, Europe and the US.

The direct-to-consumer beauty brand ramped up its operations in the last month ahead of its reentry into physical retail.

This week, the Canadian e-tailer announced investment from Sequoia Capital China at a valuation of more than $4 billion, signalling big ambitions to build on its success.

BoF can reveal the funding marks the first-ever external investment for the Montreal-based luxury e-commerce company, known for its curated selection of brands, ambitious editorial strategy and younger audience.