Direct-to-Consumer, Luxury Brand Tamara Mellon Raises $24 Million to Accelerate Growth
Tamara Mellon, the direct-to-consumer women’s luxury footwear brand, announced a $24 million Series B round of financing today. Led by existing investors New Enterprise Associates (NEA), with participation from a new investor, Quadrille Capital, the Series B round brings the total amount of capital raised to $37 million.
The company’s disruptive business model and strong performance has attracted tremendous investor interest, positioning Tamara Mellon to accelerate business growth following this latest round. The business grew 3x in the first half of 2017 versus the first half of 2018, is largely mobile, and has a fiercely loyal customer base and social following.
“With Tamara Mellon, you have a founder who built a billion-dollar company in the analog world and is now doing it in the digital world, completely upending the model,” said Tony Florence, General Partner and Head of Technology Investing at NEA. “The company embodies a new generation of consumer businesses that are using a direct-to-consumer approach to really understand and better serve their customers. We are really excited to continue partnering with this incredible team as they start to scale the business.”
The Series B funds will go to expanding product assortment and hiring new employees. Prior to raising its Series B, the company had 18 employees, including its two female founders, Mellon and CEO Jill Layfield.
Supporting women is paramount to the brand. Tamara Mellon co-founded Jimmy Choo in 1996. She then went on to launch her eponymous label in October 2016 as the first direct-to-consumer luxury women’s footwear brand, effectively disrupting the category she helped create 20 years ago.
Beyond being outspoken on women’s issues, the Tamara Mellon brand is well known for its unmatched craftsmanship and innovative design. Tamara Mellon produces its shoes in the best factories in Italy, and cuts out the 6x retail markup to offer the highest quality shoes at better prices. Customers are also able to send in their shoes for complimentary cobbler repairs, direct from their doorstep.
“We are building a brand for women who want more from a luxury brand,” Mellon says. “Our customer expects unparalleled design and superior construction at a better price. Most importantly, she wants to align herself with a brand that stands up for women. The intersection of culture and commerce is reshaping the way brands are built, and we’re thrilled to be a part of this shift.”
About Tamara Mellon
A Tamara Mellon é uma marca de calçados de luxo projetada para mulheres, por mulheres. A marca está quebrando todas as regras tradicionais da moda, eliminando a marcação de varejo 6x indo direto ao consumidor e ignorando o calendário da moda com quedas mensais do produto. Os sapatos Tamara Mellon são feitos nas melhores fábricas italianas, e a marca oferece um serviço gratuito de sapateiro por dois anos após a compra, como parte do compromisso de reimaginar o serviço de luxo. Uma defensora sincera dos problemas das mulheres, a Tamara Mellon está criando uma comunidade de consumidores de luxo da próxima geração.