Your Source for Venture Capital and Private Equity Financings

Venture Capital News: M.Gemi Socks Away $14M Funding

2015-03-24
M.Gemi has raised approximately $14M in seed and Series A funding, led by General Catalyst with participation from Forerunner Ventures and Breakaway Ventures.
BOSTON, MA, M.Gemi, a new brand of Italian handcrafted footwear at an accessible price, launches today. Discovering a void in the marketplace, M.Gemi was eager to combine the old world craftsmanship of luxury, Italian footwear with new world accessibility, sold directly to the consumer through the M.Gemi website. By cutting out the traditional retailer and selling online, M.Gemi is able to offer a premium collection of the highest quality women's footwear, reasonably priced from $128 to $298 to start.

'We saw a white space in the footwear market,' said Founder Ben Fischman. 'Women know that the finest handcrafted, luxury shoes are made in Italy, but the prices have become astronomical, so we are reinventing the Italian shoe business for the American market. We have partnered with family-owned Italian factories to create a new supply chain, enabling us to produce gorgeous, high-quality shoes at uniquely accessible prices.'

M.Gemi shoes feature entirely Italian-made materials, and are made with artisanal craftsmanship and precise attention to detail on each and every pair. They are designed and produced in small batches, in the most sought after specialty factories in Italy. M.Gemi shoes leverage classic elements like polished saffiano leathers and hand stitching, always mixed with unique and special details. All M.Gemi shoes are limited editions and every Monday a new collection is released on mgemi.com.

'Our shoes are the same luxury quality as those of premier, Italian designers, however one of our unique differences are our weekly new-releases. Our clients will always find the latest trends they love, and the quality of our shoes will never be compromised,' said Chief Merchant Maria Gangemi. 'It's not only important that we're using the best possible materials, but also that fit remains consistent, so once a client finds a forma that works for her, she can order additional styles made on the same forma and never have to think twice about size. While styles will constantly change, fit and quality will not.'

With more than 50 years of experience in fashion, business, design and technology, the M.Gemi team, headquartered in Boston and Florence, has a wealth of knowledge in the industry, bringing together their unique perspectives and expertise. M.Gemi has raised approximately $14M in seed and Series A funding, led by General Catalyst with participation from Forerunner Ventures and Breakaway Ventures.

For more information on M.Gemi and to shop the collection, visit www.mgemi.com.
(c) by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000+ startups and 5,000+ VC investors