Menswear brand Frank & Oak racks up $15 mln Series B

Menswear brand Frank & Oak said Thursday that it has closed $15 million in Series B funding. Goodwater Capital led the round with participation from other investors that included Greenoaks Capital, Investment Quebec, Rho Canada Ventures, Real Ventures, Version One Ventures, Lightbank and Bertelsmann Digital Media Investments. In addition to the funding, the company has named Howard Starr, former president and CEO of Tommy Hilfiger International, to its board of advisors.

PRESS RELEASE

NEW YORK — September 4, 2014 at 7:30am ET — Frank & Oak (http://www.frankandoak.com), a menswear brand for the creative generation, announced today that it has raised $15 million in Series B funding led by Silicon Valley-based Goodwater Capital with participation from Greenoaks Capital, Investment Quebec, John Currie, CFO of Lululemon, as well as all existing investors which include: Rho Canada Ventures, Real Ventures, Version One Ventures, Lightbank, and Bertelsmann Digital Media Investments. The company also welcomes Howard Starr, former President and CEO of Tommy Hilfiger International, to its board of advisors. With the newly-raised funds, Frank & Oak will be expanding its operations with a new office in New York City; the company is also revealing plans to further invest in new product categories and cross-channel technologies.

Founded with a mission to create a lifestyle brand for the creative class, Frank & Oak leverages technology and data to deliver content-driven shopping experiences to customers. By coupling smartly-designed lifestyle products with rich and immersive web, mobile and in-store experiences, Frank & Oak has transcended its role as a retailer to become a cultural catalyst for a generation of creative men.

“We are pleased to partner with Chi-Hua Chien and Eric Kim of Goodwater, both of whom have outstanding expertise in building and investing in innovative consumer companies, including Facebook, Twitter, Spotify, Path, and Chegg,” said Ethan Song, co-founder and CEO of Frank & Oak. “The partners of Goodwater have been integral to many of the most iconic consumer technology companies of the past decade, and we share a common vision around the power of technology in reshaping people’s lives.”

Frank & Oak has rapidly grown its community to over 1.5 million members, with over 225,000 downloads across its iOS and Android apps. With technology and design at the forefront of its brand platforms, Frank & Oak empowers shoppers with personalized product selections, inspiring lifestyle content, and hassle-free online experiences. Earlier this year, the ambitious, digitally-born brand also released the inaugural issue of its first biannual print magazine, Oak Street.

“Ethan and Hicham have built an impressively strong brand whose ethos resonates with this generation,” says Chi-Hua Chien, ‎Co-Founder & Managing Partner, Goodwater Capital. “It’s been a pleasure watching the brand grow–seamlessly conquering every experience across web, mobile and the physical world. We recognize Frank & Oak’s huge potential, and we’re excited to be part of its journey ahead.”

Frank & Oak is currently hiring. For more information, visit: http://frankandoak.com/about/jobs.

About Frank & Oak
A menswear brand for the creative generation, Frank & Oak offers quality designs, personalized services, and technology- and content-driven omni-channel experiences. The vertically integrated brand designs, manufactures, and sells premium clothing and accessories through frankandoak.com.

About Goodwater Capital
Goodwater Capital is a next generation venture capital firm devoted to exceptional entrepreneurs building the products and platforms that consumers love. We believe consumer tech has broad potential for transformative impact in the world, and we work alongside some of the world’s most innovative entrepreneurs to pursue that change. Based in Silicon Valley, Goodwater’s founders have partnered with global startup successes including Chegg, Coupang, Facebook, KakaoTalk, Path, Spotify, and Twitter. Goodwater Capital: Empower exceptional entrepreneurs. Change the world.

 

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