ShoeDazzle

ShoeDazzle is an American online fashion subscription service based in El Segundo, California. Each month the company debuts a selection of shoes, handbags, jewelry and provides its members with a showroom curated to their indicated fashion preferences.[1][2]

ShoeDazzle
TypeSubsidiary
IndustryRetail
FoundedMarch 19, 2009 (2009-03-19)
Founder
HeadquartersEl Segundo, California, U.S.
Key people
  • Adam Goldenberg (Co-CEO)
  • Don Ressler (Co-CEO)
  • M.J. Eng (President)
ProductsShoes, accessories, clothes
ParentTechStyle Fashion Group

History

The company was founded by Kim Kardashian, Brian Lee, Robert Shapiro and M.J. Eng in 2009.[1]

In 2013, fashion expert Rachel Zoe joined ShoeDazzle as Chief Stylist.[3]

ShoeDazzle merged with JustFab, Inc. in 2013.[4]

Funding and growth

In November 2009, ShoeDazzle secured its first round of $7 million funding from Polaris Ventures, a venture capital firm specializing in early-stage investments.[1]

In April 2010, Lightspeed Venture Partners led a $13 million round of financing.[1] In May 2011, ShoeDazzle secured $40 million in funding led by Silicon Valley venture capital firm Andreessen Horowitz.[1]

In September 2011, Bill Strauss, the former CEO of Provide Commerce (which operates sites such as ProFlowers), became ShoeDazzle's CEO.[2] Co-founder Lee became chairman. In March 2012, ShoeDazzle dropped its $39.95 monthly subscription model and expanded into apparel, handbags, weddings and lingerie.[2]

In July 2012, ShoeDazzle signed up a record one million new members.[5] From 2011-2012, ShoeDazzle grew from 3 million to 10 million members.[6]

In August 2013, ShoeDazzle was acquired by rival online fashion subscription service JustFab.[7] The two companies will continue to run independently as separate brands.[8]

References
  1. "Kim Kardashian's ShoeDazzle gets $40 million financing". Los Angeles Business. 17 May 2011. Retrieved 15 August 2012.
  2. Boyd, E.B. (29 March 2012). "ShoeDazzle Ditches Monthly Subscriptions For Boutique-Style Pampering". Fast Company. Retrieved 15 August 2012.
  3. Krupnick, Ellie (8 January 2013). "Rachel Zoe Heads To ShoeDazzle As Chief Stylist Alongside". Huffington Post. Retrieved 13 February 2014.
  4. Novellino, Teresa (22 August 2013). "Why the JustFab-ShoeDazzle merger was a fashion do". Upstart Business Journal. Retrieved 13 February 2014.
  5. Shontell, Alyson (6 August 2012). "Shoedazzle Now Has 13 Million Members, With 1 Million Joining Last Month". Business Insider. Retrieved 15 August 2012.
  6. Kerr, Dana (29 March 2012). "Kim Kardashian's ShoeDazzle gets a revamp". CNET. Retrieved 15 August 2012.
  7. crunchbase. "JustFab." Retrieved Sept 9, 2013.
  8. Novellino, Teresa (22 August 2013). "Why the JustFab-ShoeDazzle merger was a fashion do". UpStart Business Journal. Retrieved 9 September 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.