Adore Me Raises $2.5 Mln Financing

Adore Me has closed $2.5 million in financing from Redhills Ventures, Jaina Capital, Ventech Capital, and other active US angels. Adore Me is an online lingerie club for women.

PRESS RELEASE

Adore Me (www.adoreme.com), the world’s first personalized online lingerie club for women, announces closing of its second round of venture capital financing, raising $2.5 million from Redhills Ventures, Jaina Capital, Ventech Capital, and other active US angels.

“Growth for the company is currently at 50% per month since beta launch in November 2011. Additionally, Adore Me is set to expand beyond lingerie and into the swimwear category. With these additions, this round of funding is perfectly timed to grow our company,” states Adore Me Co-Founder and CEO Morgan Hermand-Waiche.

Each Adore Me member is offered a complimentary style consultation and receives access to a private showroom handpicked by expert stylists. The showroom turns over once a month, ensuring there are always new and stylish pieces available for purchase. The lingerie and swimwear pieces are inspired by world designs, bringing the best in French, UK, US and Brazilian fashion straight to the Adore Me virtual showrooms.

US based Redhills Ventures saw in Adore Me an outstanding management team, with the ability to successfully execute on its vision and business plan. European based Jaina Capital and Ventech Capital, two funds that specialize in Internet, information technology, communications technology, and environment startups, see the opportunity to provide Adore Me with the invaluable insights these firms have gained in this very competitive industry. They all look forward to helping Adore Me become the leader in its chosen field.

About Adore Me

Adore Me (www.adoreme.com) is the world’s first personalized online lingerie club, disrupting the women’s underwear industry by offering designer crafted lingerie at an affordable price point.

Upon sign up, one receives a complimentary consultation and invaluable one-on-one attention from lingerie experts, who then create monthly customized showrooms for each and every member. All Items in the showrooms are gorgeous pieces of lingerie inspired by designs from around the globe, bringing the best of French, UK, US and Brazilian styles to the Adore Me headquarters in New York City. Each set, sold for $39.95, provides beautiful lingerie accessible to everyone – with free shipping and returns, of course!

Adore Me was born from the collaboration of an international team of fashion experts and serial entrepreneurs including Co-Founders Morgan Hermand-Waiche, Fabrice Grinda and Jose Marin. Hermand-Waiche is a Harvard Business School alumni, internet start-up entrepreneur (with two successful startups behind him) and CEO of Adore Me. Grinda is founder and CEO of several successful Internet ventures including Olx.com, an online classifieds website and currently one of the top 20 most visited sites in the world. Marin founded and holds the position of CEO in many ventures, including DeRemate.com, the most prominent consumer-to-consumer corporation of Latin America, to name but one.

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