Men’s fashion ecommerce site Outfittery grabs $20 mln


Outfittery has received $20 million in funding in a round led by Northzone. Based in Berlin, Outfittery is a men’s’ fashion ecommerce site.

PRESS RELEASE

Berlin, March 2nd, 2015. Outfittery is fundamentally changing the way men shop for clothes. Individually tailored personal service provides men with a great fashion look and a stress-free experience. As a pioneer and clear European leader of this disruptive model, Outfittery is delighted to announce that it has raised further capital from leading international investor Northzone with significant participation from existing investors. Outfittery will use the investment to continue its geographic expansion and to further innovate the male shopping experience.

“Northzone shares our conviction that an uncompromising customer focus and strong service culture are the critical success factors for companies. For us, personal service isn’t a feature, it’s the heart and soul of our business. Northzone is the perfect partner for us to help in revolutionizing the male fashion industry,” said Julia Bösch, Managing Director and co-founder of OUTFITTERY. OUTFITTERY is currently active in eight European markets and plans to add more this year.

With its investment in OUTFITTERY, Northzone has added another category leader to its impressive portfolio of internet success stories. The venture capital fund invests in exceptional teams with ground-breaking and disruptive business models. It has supported internet successes such as Spotify, Trustpilot and iZettle. In addition, existing investors Highland Europe, Holtzbrinck Ventures, Mangrove Capital Partners and the VC Fonds Kreativwirtschaft Berlin managed by IBB have all increased their commitment to OUTFITTERY.

Hans Otterling, Partner at Northzone, explained the investment as follows: “OUTFITTERY, like Spotify, is a disruptive business model that rethinks an entire industry. We see curated shopping as the next evolution of ecommerce. With its vision and business model, OUTFITTERY has achieved exceptional growth since inception and we are impressed by the entire team and their dedicated customer focus.”

About OUTFITTERY:
OUTFITTERY makes it easier for men to shop for fashion online. Customers simply answer a few questions about their clothing style and sizes at www.outfittery.de. OUTFITTERY’s style experts then personally contact them and put together individual outfits which are conveniently shipped to their homes. Customers keep whatever they like and send the rest back. OUTFITTERY offers this innovative service free of charge. The Berlin company was founded in 2012 by Julia Bösch and Anna Alex and now employs 150 people. 80 style experts are solely dedicated to the fashion desires of their customers. Over 100 high-quality fashion brands are currently on offer. The start-up is currently active in Germany, Austria, Switzerland, the Netherlands, Belgium, Luxembourg, Sweden and Denmark, and is used by more than 200,000 men.

About Northzone:
Founded in 1996, Northzone has to date raised seven funds and invested in some 100 technology companies. The current portfolio includes companies such as Spotify, Avito.ru, Trustpilot, WideSpace and Spaceape. The company has offices in London, Stockholm, Oslo, Copenhagen and New York. For further information, visit www.northzone.com.

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