Latest news with #SilasCapital
Yahoo
a day ago
- Business
- Yahoo
Dôen eyes expansion with new funding round
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Womenswear brand Dôen has closed a Series A funding round from growth equity firm Silas Capital, according to a news release this week. While financial terms of the funding round weren't disclosed, Dôen said that before this round, it had raised about $1 million in outside capital. The company's revenue is expected to reach $100 million this year. Dôen will use the new funding to expand retail operations and boost infrastructure in order to support its growing global customer base, per the release. Since Dôen's online launch in 2016, the company has expanded from women's dresses, tops and footwear into outerwear, denim, swimwear, tees, delicates and a home capsule, per the release. While the company already operates seven brick-and-mortar locations in California, New York and Massachusetts, Dôen said the funding will help expand its retail footprint into other key markets. The company also plans to boost operational infrastructure and invest in marketing. Margaret Kleveland, Dôen's co-founder and CEO, said in the release that the announcement had been 'a long time in the making' as the brand looked for a partner that aligned with its longterm vision for growth. Dôen launched wholesale through Net-A-Porter in 2019 and has had domestic partnerships with Saks Fifth Avenue and Nordstrom, per the release. Dôen's products are also placed in select international retailers and available at more than 150 specialty stores globally. Sales at Dôen's owned retail stores grew 80% year over year, with comp store sales up 46%, per the release. The New York store in particular saw sales grow 65%. Overall, the business grew 40% year over year in e-commerce, and wholesale bookings have risen 110% year to date. Dôen employs 160 people and is headquartered in Van Nuys, California. Collaborations have been a key part of Dôen's strategy, including its partnerships with brands like Reformation and K. Jacques. Dôen has also released two capsules with Gap. The Silas investment in Dôen follows previous investments in digitally native fashion brands including Naadam, Tracksmith and Summersalt. The firm has also invested in luxury fashion brand Proenza Schouler. Silas Capital's current investment portfolio includes beauty and wellness companies such as Violette_FR, Oak Essentials and Makeup by Mario. Last year, Silas Capital said it would focus on investing in consumer brands as part of its 'emerging growth' strategy. Sign in to access your portfolio
Fashion United
4 days ago
- Business
- Fashion United
Dôen secures Series A funding led by Silas Capital
California-based womenswear brand Dôen has secured investment led by growth equity firm Silas Capital to accelerate its retail expansion. The financial terms of the deal were not disclosed. Dôen, founded by Santa Barbara-born sisters Margaret and Katherine Kleveland, has become known for its feminine silhouettes, environmental commitments, and women-first ethos and has organically built a growing 100 million US dollar revenue business. It launched in 2016 as a direct-to-consumer label offering women's dresses, knits and tops, footwear, and childrenswear. Since then, the brand has evolved into a full lifestyle brand, expanding to include outerwear, denim, swimwear, sleep and loungewear, delicates, and a home capsule. The brand, which launched a collaboration with American retailer Gap last year, closed its Series A funding round to secure capital to further accelerate its brand growth by enhancing its infrastructure, accelerating the brand's physical retail expansion into 'key markets' and strengthening 'its connection with a growing global customer base'. Before this round, Dôen had raised only 1 million US dollars in outside capital. Margaret Kleveland, co-founder and chief executive of Dôen, said in a statement: "This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen. "Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways. We couldn't be more excited for what's ahead for Dôen." American brand Dôen looking to scale retail expansion following Series A round Dôen currently operates seven stores in the US, including recent openings in Marin, California and Nantucket, Massachusetts. Retail sales in aggregate have grown 80 percent year-over-year, while comp store sales are up 46 percent, including 65 percent growth at its Bleecker Street location in New York alone. E-commerce is also thriving with 40 percent growth year-over-year, while wholesale bookings are up 110 percent year-to-date. The womenswear brand first launched with wholesale partner Net-a-Porter in 2019, followed by domestic partnerships with American retailers Saks Fifth Avenue and Nordstrom, and has been continuing to scale internationally and is stocked in more than 150 retailers, including Harrods in the UK, Holt Renfrew (Canada), Le Bon Marché in France, SKP in China, Ounass in the UAE, Tom Greyhound in South Korea, and Bongénie in Switzerland. Dôen has also been driving brand awareness and community building through brand and creative partnerships, including two collections with Gap and collaborations with Reformation, K. Jacques, RMS Beauty, and Library Science, Kaia Gerber and Alyssa Reeder's book club. Brian Thorne, partner at Silas Capital, added: "Dôen is truly an exceptional brand – seamlessly blending its timeless appeal with product that offers both sophistication and practicality. "We see tremendous potential to help grow their deeply loyal community by amplifying e-commerce momentum and further scaling the highly productive retail footprint. We are thrilled to partner with Margaret and Katherine at such a pivotal moment in their journey." Dôen is headquartered in Van Nuys, California and has a team of 160 employees.
Fashion Network
4 days ago
- Business
- Fashion Network
Dôen secures Series A funding from Silas Capital
California-based clothing label Dôen announced on Tuesday the closing of a Series A funding round, led by growth equity firm Silas Capital. The new funding is expected to support the brand's continued retail expansion, the implementation of new operational systems, and enhanced marketing efforts aimed at deepening customer engagement and loyalty. "This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen," said Margaret Kleveland, co-founder and CEO of Dôen. "Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways. We couldn't be more excited for what's ahead for Dôen.' Founded in 2016 by sisters Margaret and Katherine, Dôen launched as a digitally native womenswear brand and has since grown into a full-fledged lifestyle label with offerings across apparel, footwear, accessories, loungewear, and home. The company has built a growing $100 million revenue business with less than $1 million in prior outside investment. With seven brick-and-mortar stores already open, including recent additions in Marin, CA and Nantucket, MA, Dôen is seeing rapid growth in retail, with year-over-year retail sales up 80% and comp store sales climbing 46%, including 65% growth at its Bleecker Street location in New York. E-commerce is also up with 40% growth year-over-year, while wholesale bookings have surged 110% year-to-date. Internationally, Dôen has built a presence through retail partners such as Net-a-Porter, Harrods, Le Bon Marché, Holt Renfrew, and SKP, and is currently stocked in over 150 specialty stores worldwide. Most recently, it launched a two installment collaboration with Gap and has equally collaborated with Reformation, K. Jacques, RMS Beauty, and Library Science, Kaia Gerber and Alyssa Reeder's book club. "Dôen is truly an exceptional brand – seamlessly blending its timeless appeal with product that offers both sophistication and practicality," said Brian Thorne, partner at Silas Capital. "We see tremendous potential to help grow their deeply loyal community by amplifying e-commerce momentum and further scaling the highly productive retail footprint. We are thrilled to partner with Margaret and Katherine at such a pivotal moment in their journey."
Fashion Network
4 days ago
- Business
- Fashion Network
Dôen secures Series A funding from Silas Capital
California-based clothing label Dôen announced on Tuesday the closing of a Series A funding round, led by growth equity firm Silas Capital. The new funding is expected to support the brand's continued retail expansion, the implementation of new operational systems, and enhanced marketing efforts aimed at deepening customer engagement and loyalty. "This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen," said Margaret Kleveland, co-founder and CEO of Dôen. "Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways. We couldn't be more excited for what's ahead for Dôen.' Founded in 2016 by sisters Margaret and Katherine, Dôen launched as a digitally native womenswear brand and has since grown into a full-fledged lifestyle label with offerings across apparel, footwear, accessories, loungewear, and home. The company has built a growing $100 million revenue business with less than $1 million in prior outside investment. With seven brick-and-mortar stores already open, including recent additions in Marin, CA and Nantucket, MA, Dôen is seeing rapid growth in retail, with year-over-year retail sales up 80% and comp store sales climbing 46%, including 65% growth at its Bleecker Street location in New York. E-commerce is also up with 40% growth year-over-year, while wholesale bookings have surged 110% year-to-date. Internationally, Dôen has built a presence through retail partners such as Net-a-Porter, Harrods, Le Bon Marché, Holt Renfrew, and SKP, and is currently stocked in over 150 specialty stores worldwide. Most recently, it launched a two installment collaboration with Gap and has equally collaborated with Reformation, K. Jacques, RMS Beauty, and Library Science, Kaia Gerber and Alyssa Reeder's book club. "Dôen is truly an exceptional brand – seamlessly blending its timeless appeal with product that offers both sophistication and practicality," said Brian Thorne, partner at Silas Capital. "We see tremendous potential to help grow their deeply loyal community by amplifying e-commerce momentum and further scaling the highly productive retail footprint. We are thrilled to partner with Margaret and Katherine at such a pivotal moment in their journey."
Fashion Network
4 days ago
- Business
- Fashion Network
Dôen secures Series A funding from Silas Capital
California-based clothing label Dôen announced on Tuesday the closing of a Series A funding round, led by growth equity firm Silas Capital. The new funding is expected to support the brand's continued retail expansion, the implementation of new operational systems, and enhanced marketing efforts aimed at deepening customer engagement and loyalty. "This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen," said Margaret Kleveland, co-founder and CEO of Dôen. "Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways. We couldn't be more excited for what's ahead for Dôen.' Founded in 2016 by sisters Margaret and Katherine, Dôen launched as a digitally native womenswear brand and has since grown into a full-fledged lifestyle label with offerings across apparel, footwear, accessories, loungewear, and home. The company has built a growing $100 million revenue business with less than $1 million in prior outside investment. With seven brick-and-mortar stores already open, including recent additions in Marin, CA and Nantucket, MA, Dôen is seeing rapid growth in retail, with year-over-year retail sales up 80% and comp store sales climbing 46%, including 65% growth at its Bleecker Street location in New York. E-commerce is also up with 40% growth year-over-year, while wholesale bookings have surged 110% year-to-date. Internationally, Dôen has built a presence through retail partners such as Net-a-Porter, Harrods, Le Bon Marché, Holt Renfrew, and SKP, and is currently stocked in over 150 specialty stores worldwide. Most recently, it launched a two installment collaboration with Gap and has equally collaborated with Reformation, K. Jacques, RMS Beauty, and Library Science, Kaia Gerber and Alyssa Reeder's book club. "Dôen is truly an exceptional brand – seamlessly blending its timeless appeal with product that offers both sophistication and practicality," said Brian Thorne, partner at Silas Capital.
