Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

St. Louis-based Summersalt raises $17.3 million for its direct-to-consumer clothing line

The midwest may not be known as the fashion capital of the world (or even the U.S.), but its place in the consumer retail firmament is secure through L Brands and its Victoria’s Secret and Bath & Body Works subsidiaries.

Now, venture investors are investing $17.3 million to establish another tentpole clothing brand in the region, with a new commitment to the St. Louis-based clothing brand, Summersalt.

Founded by a former Washington University design professor and swimwear designer, Lori Coulter, and a marketing and branding consultant, Reshma Chattaram Chamberlin, Summersalt launched in 2017 with a lineof direct-to-consumer swimwear.

In the past two years the company has expanded beyond its $95 swimsuits to include cashmere sets, packable jackets, and wrinkle-free pants.

Initially backed by the Rise of the Rest Seed Fund, backed by AOL founder Steve Case’s Revolution investment fund, the company has gone on to attract capital from Founders Fund, Lewis and Clark Ventures and Victress Capital.

The latest round was led by Mercato Partners, a Utah-based venture capital firm.

“We could not be more thrilled with the opportunity to lead Summersalt’s latest funding found, and partner with two passionate founders who have a clear vision, are mission driven and have a track record for accelerated performance,” said Joe Kaiser, a director with Mercato Partners, in a statement. “The product, brand, team and the incredible consumers make for a winning combination.”

Summersalt calls its line of clothing travel wear and used its footprint in the swimsuit market to expand its reach with other items that could be taken on trips to less-sun-drenched parts of the world.

“We are building a generation defining travel brand that goes beyond swimwear and apparel to create a community of curious women who love to explore,” said Coulter, the company’s president and chief executive in a statement. “Our unparalleled experience in apparel, deep supply chain expertise and fit-technology will  be at the foundation as we continue to scale and build a brand with highly profitable unit economics.”

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more

Billionaire clothing dynasty heiress launches Everybody & Everyone to make fashion sustainable

Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone , to prove that the fashion industry can be both environmentally sustainable and profitable. There’s no argument about the negative impacts of the fashion industry on the environment. The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton, and toxic chemicals to dye, treat, and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes). The lit...
Post a Comment
Read more