Index Ventures and Felix Capital among partners completing fashion brand's Series A funding round

ANINE BING, a female-led womenswear company with a global, omni-channel presence, has completed a $15m (around £11m) Series A funding with equal participation from Index Ventures, Greycroft Partners and Felix Capital.

The luxury fashion brand has accelerated sales and ecommerce traffic with plans to use the new funding to continue international growth and expand their thriving retail footprint.

Known for investing in companies such as Farfetch, Business of Fashion, Glossier, goop, Trunk Club, and Bird, the investors kicked off Series A funding in 2016.

Since the initial investment, ANINE BING has doubled revenue year-over-year, with web traffic growing in line, most notably new customer growth of 50 per cent in June 2018.

The company has tripled its employee base, and added key hires including CFO and VP of ecommerce and growth. ANINE BING plans to continue to double its business in 2019 through 2020.

Frederic Court, of ANINE BING investor, Felix Capital, said: “ANINE BING is a great illustration of what we are doing at Felix Capital, backing founders that build inspiring brands on top of engaged, authentic communities growing organically.

“We are so impressed by how ANINE and the team have built their next-generation brand and business into a unique lifestyle proposition, attracting significant customer love across both the US and EU.

“We look forward to leveraging the Felix network and know-how to help ANINE BING blossom into one of the defining brands for millennial women.”

ANINE BING will use the latest investment to fund continued retail expansion, digital growth, technology and analytics to drive consumer insights and decision making.

In 2018, the company added a second store in New York’s Soho neighborhood, with its second Los Angeles store slated to open at the imminent Rick Caruso complex in the Pacific Palisades neighborhood this month.

The brand is planning to open two more stores in 2018 and several additional stores before the end of 2019, with a combination of international and domestic locations.

The modern fashion house currently has eight retail stores in the following locations: West Hollywood; Soho in New York, West Village, Paris, London, Berlin, Barcelona and Madrid.

Nicolai Nielsen, the company’s standing CEO, added: “We are excited for the significant opportunity to continue expanding and to bring ANINE BING to even more customers globally.

“This will allow us to communicate our brand identity to more women, creating a message that is relevant worldwide as well as reaching different markets.”

The company began in 2012 and was originally funded by husband and wife duo, Anine Bing, founder and chief creative officer, and Nicolai Nielsen, founder and chief executive officer.

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