Untuckit Gets $30 Million From Silicon Valley Investment Company

Main men's leisure

The United States

brand

Last Sunday, it announced that it had invested $30 million in Kleiner Perkins Caufield & Byers, a famous Silicon Valley Vc firm (Kai Penghua surplus, hereinafter referred to as KPCB).

UNTUCKit did not disclose the implicit valuation of KPCB's investment in the company.

But anonymous sources said the valuation of the financing for UNTUCKit exceeded 200 million dollars.

This investment will help UNTUCKit open 15 new stores in the United States to expand women's wear and children's clothing business.

UNTUCKit now has 8 physical stores.

UNTUCKit was founded in New York in 2011. It was co founded by alumni Aaron Sanandres and Chris Riccobono of two Columbia business school schools in Columbia.

The company initially raised 20 million starting money from friends and family members of the founders.

In order to create brand influence, the company's first marketing capital was invested in radio and magazine advertisements.

The symbol product of UNTUCKit is Untucked Shirt (not to be tucked into the waist waist shirt, is a casual shirt wear method), and later developed T-shirts, jackets and shorts products.

UNTUCKit was initially sold online only.

It was not until 2015 that UNTUCKit became the first entity store as part of the brand's "online to entity" strategy.

Like other competitive brands, UNTUCKit is blurring the boundaries between online and physical.

UNTUCKit CEO Aaron Sanandres said: "because most male consumers are still uncomfortable with buying new brands online, we have always been aware that we should have some physical shops."

Mood Rowghani, general partner of KPCB, said that UNTUCKit has both online and physical shops, which is good for sales, design, marketing and improving customer well-being.

Many e-commerce companies have accumulated stable customers online, and have turned to offline retailers to sell their products.

Wal-Mart Inc, a male clothing retailer bought by WAL-MART (Bonobos), is running a "guide shop" to provide consumers with trial service, online ordering, and door-to-door service in the physical store. Warby Parker and Warby Parker Rent, a clothing rental company, also have similar initiatives.

But retail businesses still face challenges, including inventory management, human resources and marketing strategies.

NastyGal.Aaron, an online retailer, closed some of its physical stores earlier this year as part of its bankruptcy proceedings. "UNTUCKit plans to open 100 stores in the next 5 years and is discussing these plans with Simon developers, Simon Property Group Inc, Macerich Co and Macerich", Sanandres said.

According to the world clothing and shoe net, UNTUCKit sales have more than doubled every year and have already made profits.

According to the Internet trend report released by Mary Meeker, the partner of KPCB venture capital fund and the Internet queen, through online sales, entity store interaction and offline marketing, online trading volume of UNTUCKit website has increased by more than 2.5 times.

More interesting reports, please pay attention to the world clothing shoes and hats net.