Ruby Ribbon Inc., a fashion commerce company, has closed on $3 million in seed funding from Trinity Ventures. As a result, Patricia Nakache, a general partner at Trinity, will join the company’s board. Ruby Ribbon is based in Burlingame, Calif., and New York.
Ruby Ribbon Inc., a fashion commerce company that leverages social technology and direct-sale tactics, today announced its’ launch and recent funding. The company, which has created a new fashion brand of products that will be available exclusively through direct social channels, has raised $3 Million in seed funding from Trinity Ventures. Patricia Nakache, a General Partner at Trinity, will join Ruby Ribbon Founder and CEO, Anna Zornosa, on the board of the new company.
Ruby Ribbon creates fashionable products that incorporate aspects of shape wear into everyday apparel to enhance women’s beautiful shapes. The products will be sold by a nationwide network of Independent Stylists who introduce the product on a person-to-person basis, usually at parties in customers’ homes. Starting today, potential stylists may sign up for more information at http://www.rubyribbon.com
Besides creating an outstanding product, Ruby Ribbon will deliver a tremendous experience to both its customers and the independent stylists who sell the product. Customers will benefit from being able to try on new clothes in the company of their friends and with a personal consultant. The Ruby Ribbon Independent Stylists who sell the product will know they represent clothes and a brand not available in retail. They will also benefit from having the support of a technology-forward company.
“Ruby Ribbon products are about fun and confidence,” said Zornosa. “Like the Spanx and LuluLemon brands, Ruby Ribbon will provide women with apparel that fits their lifestyles while making them look great. In Trinity Ventures we found the perfect early stage investor because they are experienced in ecommerce models that are made transformative through the use of social media.”
“In the age of social media, direct sales – which is all about allowing entrepreneurs to sell through their own networks – is a powerful way to bring new products to market,” said Nakache. “As companies like Stella and Dot have shown, a company with unique products and a strong brand can build audience more quickly through social commerce than has been possible in the past.”
The executives leading Ruby Ribbon, with offices both in Burlingame, CA and New York, NY, have broad experience encompassing the Internet, apparel, retail, and direct sales spheres. Zornosa previously served as CEO and General Manager at companies including Topica, inc., The Cobalt Group and Yahoo! Inc. and as advisor to Glam.com, Motista and Chloe and Isabel. Deborah Uri, Co-Founder and VP of Marketing and Operations, has run large teams for companies in both the United States and Europe, most recently as CMO of Squarespace Inc.
Apparel expertise is being given by Principal Advisors Theresa Strickland, CEO of BrandWave, whose background includes senior posts with Sears Holding Company, Pottery Barn, Macy’s and Cost Plus World Market, and Megan Boynton, who has held executive positions with Ann, Inc., the Gap and Guess Jeans. Additional team members have worked at direct sales companies including Silpada, 31 Gifts, the Balance Company and Maidenform At Home.
Ruby Ribbon is now recruiting Independent Stylists who will start selling its products at parties held in customers’ homes starting in August. “The Independent Stylists who join our company now will be first to market with an innovative product, and will benefit from our team’s experience with both technology and the Internet,” said Uri. “We are dedicated to respecting our Stylists’ life experience and their time by giving them tools that make them productive and efficient in their every interaction with Ruby Ribbon.”
According to the Direct Selling Association, more than 15 million people work in direct sales in the U.S., generating more than $30 billion in sales annually ($114 billion worldwide). By targeting an apparel niche that is about enhancing women’s confidence, Ruby Ribbon is at the intersection of the $1 Billion US market for shape wear, and the multi-Billion market for women’s apparel and active wear.
ABOUT RUBY RIBBON
Ruby Ribbon is a privately owned direct sales company selling apparel based on its own designs. Headquartered in Burlingame, CA and New York, NY, the company was founded by Anna Zornosa, a seasoned serial entrepreneur whose vision and passion is the creation of a company that contributes to women’s confidence both through its products and through the career opportunities it creates. Her partnership with Deborah Uri and the Ruby Ribbon Team has created a team deeply committed to its Independent Stylists and with deep expertise in social media, apparel, and direct sales.
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