Firm Launching the First Online Subscription Brand in Brazil. Funding Round Led By Redpoint Ventures Joined By Accel Partners.
SÃO PAULO, BRAZIL, Shoes4you, the first fashion brand in Brazil to sell exclusive collections through monthly online subscriptions, today announced that the company has received Series A financing, led by Redpoint Ventures and joined by Accel Partners. The investment will support the upcoming launch of the company in September and continued efforts to bring a more personalized shopping experience to customers.
"Shoes4you will revolutionize the Ecommerce market in Brazil through the creation of the first online fashion brand paired with a fully personalized customer experience," said Olivier Grinda, CEO and co-founder. "We are thrilled to partner with leading global venture capital firms like Redpoint and Accel whose deep capital bases and experience rapidly scaling global ecommerce brands will enable us to pursue an aggressive rollout across Brazil."
The Shoes4you brand will be exclusively sold online to a premier customer base and the company has plans to launch 12 collections per year and hundreds of sub-collections to match the unique tastes of its clientele. "Our team has the leading professionals in fashion, who are always on top of the latest trends, meaning our merchandise will cater directly to our customers' individual taste and style," said Priscilla Whitaker, Chief Merchandising Officer at Shoes4you.
Jeff Brody, Partner at Redpoint Ventures, who will join the Board of Directors notes: "The demand for shoes, apparel and other fashion accessories on the Internet is exploding in Brazil. The opportunity to partner with such an experienced and motivated team to introduce the subscription Ecommerce model to Brazil is truly exciting." Kevin Efrusy, Partner at Accel added: "Brazil has rapidly become one of the most important markets for virtually all of our internet companies, and Olivier is someone we are excited to build a company with."
The strong investor syndicate also includes participation from Flybridge Capital Partners and Romero Rodrigues (CEO and co-founder of BuscaP�©), as well as IG Expansion, a Spain based investment company that helped found Shoes4you in May 2011, together with Fabrice Grinda (CEO and founder of OLX).
About Shoes4you: Shoes4you is the first Brazilian-based fashion brand to sell exclusively online. The company is revolutionizing the fashion industry through is subscription Ecommerce model, offering a fully personalized experience for customers. Shoes4you was founded in 2011 by Olivier Grinda, Fabrice Grinda and IG Expansion with investment from Redpoint Ventures, Accel Partners, Flybridge Capital Partners and Romero Rodrigues (CEO and co-founder of Buscape.com.br). For more information visit:
www.shoes4you.com.br or find us on Facebook at: http://www.facebook.com/Shoes4youBrasil
About Redpoint Ventures: Founded in 1999, Redpoint Ventures is a leading technology focused venture capital and growth equity investment firm with over $2.5B in capital under management. Redpoint focuses on investing globally in technology ventures across the internet, digital media, mobile, and enterprise sectors to accelerate growth and build industry defining companies. Its partners have been involved in 41 IPOs and 66 upside acquisitions. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information visit our website at http://www.redpoint.com.
About Accel Partners: Founded in 1983 Accel has helped entrepreneurs build over 300 successful companies worldwide through early initiating investments. Many of these companies have gone on to define their categories, including Facebook, Groupon, Admob, Atlassian, Brightcove, ComScore, Dropbox, Etsy, JBoss, Kayak, Macromedia, MetroPCS, Polycom/PictureTel, Playfish, QlikTech, Quidsi (Diapers.com), Real Networks, Riverbed, Rovio (AngryBirds), Veritas, Walmart.com, XenSource, SpringSource, and Zimbra. Accel has offices in Palo Alto, London, Bangalore, Bejing and Shanghai amongst others, and is also actively pursuing investments in Brazil and Latin America. For more information, please visit www.accel.com, or find us on Facebook at www.facebook.com/accel.
About IG Expansion: IG Expansion is an investment holding vehicle that starts and develops technology companies, mainly in the internet space. IG Expansion builds companies in emerging markets, with main focus in Spain and Latin America, aiming to bring to this region proven business models from the US and Europe. The firm is headquartered in Madrid, for more information please visit www.igexpansion.com.
