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Online fashion brand Lulus raises $120 million [CNBC]

STITCH FIX (SFIX)  More Company Research Source: CNBC
Last stitch fix earnings: 3/12 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.stitchfix.com
PDF Fashion e-retailer Lulu's has raised $120 million from venture capital firm IVP and Canada Pension Plan Investment Board, the company said on Wednesday. The fundraise demonstrates the continued bets that investors are willing to take on the start-ups looking to take on the rapidly changing retail industry. Founded in 1996 by Debra Cannon and her daughter Colleen Winter, Lulu's is an online website and fashion brand that caters to shoppers in their twenties. It calls its clothes fashionable and affordable — shoppers can buy a $96 champagne-colored maxi dress for prom or a $52 wrap dress for graduation. More than 85 percent of the website is Lulu's branded clothes, though it sells other brands like Free People as well. Lulu's has also begun to sell its clothes in Nordstrom stores. A large part of the brand's success has rested on its social media prowess, fostering a loyal shopper base frequently reminded of the brand's prevalence. It would be very h [Read more]

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