StylistPick Secures $8M In Series A To Expand Its Monthly Fashion Offers
Proof that online fashion remains a hot space, StylistPick, the fashion buying site that offers members a personalised offer each month, has raised $8 million in a Series A round co-led by Accel Partners and Index Ventures.
Founded in 2010, Stylistpick offers a neat take on the fashion club model: Customers signup to StylistPick and are asked to take a short quiz to “identify their fashion profile”. Then each month via email they receive tailored recommendations for fashion items such as shoes and bags, which claim to be matched to their taste as well as being picked by “leading fashion personalities” or professional stylists as used by celebrities such as Alexa Chung, Dannii Minogue, Paloma Faith and Pixie Lott. Interestingly, each offer is pegged at a set price of £39.95p including postage and members can also choose to decline said offer and therefore skip the month.
So it’s essentially a soft subscription that mixes celebrity endorsement, fashion content and personalised offers – a recipe for success, thinks Accel partner Sonali De Rycker. “We believe that Felix and his team have created a very powerful new way for fast fashion shoppers to engage with the products they love”, she says, citing StylistPick as one of a new breed of “social” commerce offerings.
The additional funding will be used by StylistPick for “geographic and category expansion” says founder and CEO Felix Leuschner and to further grow the team and increase the company’s sales and marketing efforts. As part of the investment, both Index’s Robin Klein and Accel’s De Rycker will join StylistPick’s board, while the London-based startup has previously received seed investment from Index Seed and angel investors Stefan Glaenzer, Alex Zubillaga and Robert Dighero.
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