Los Angeles-based fashion retailer Nasty Gal has raised $16 million in Series C funding. Ron Johnson, CEO of Enjoy, led the round. In addition to the funding, Johnson, a former CEO of JC Penney, has been appointed to Nasty Gal’s board.
PRESS RELEASE
LOS ANGELES, February 27, 2015— Nasty Gal, the millennial fashion and style authority, announced today that the company has closed $16 million in series C funding to support the company’s growth. The round was led by Ron Johnson, CEO of Enjoy and former Apple and Target executive, who also joined the company’s board.
With participation from existing investor Index Ventures, this round brings Nasty Gal’s total funding to $65 million and will be used to expedite investment in the company’s infrastructure for continued omnichannel growth.
“Over the past 18 months Ron has become a valued mentor and friend. I can’t imagine anyone more qualified to support our growth in this next phase,” says Sophia Amoruso, founder and executive chairman. “This move will allow him to get significantly involved with Nasty Gal to help us succeed in our next phase of growth.”
Nasty Gal launched its first retail store on Melrose Avenue in Los Angeles in November of 2014 and has a second planned for the Third Street Promenade in Santa Monica in the spring of this year.
“Nasty Gal has something incredibly unique in its blend of community, fashion, and lifestyle. The company empowers women through how they dress and how they can live their life. Customers want to connect with their community and Nasty Gal via stores, online, and more. I look forward to being a part of the company’s incredible future.”, says Johnson.
“Ron and I worked together at the start of our careers in retail,” says Sheree Waterson, CEO of Nasty Gal. “He’s an exceptional talent and I am so excited to work with him again.” Ron becomes the company’s fourth board member, which includes Sophia Amoruso, Danny Rimer of Index Ventures, and Sheree Waterson.
About Ron Johnson
Ron Johnson is currently the CEO of Enjoy. A onetime executive of Target Corp., Johnson was the architect of Apple’s retail strategy, which aimed to establish a deeper connection with customers. The minimalist stores allowed people to touch and try Apple’s computers. Johnson conceived of the Genius Bar, which provides technical advice or help in setting up new products. The strategy worked: Apple Stores generate more sales per square foot than any other retailer, including luxury brands like Tiffany & Co. Johnson was the CEO of JC Penney from 2011-2013.
About Nasty Gal
Nasty Gal is a phenomenon in the world of curated style. Established in 2006 by Sophia Amoruso as an eBay store specializing in vintage clothing, and based in Los Angeles, Nasty Gal today is recognized as a pioneer in both the curation and design of women’s clothing, shoes, and accessories. Nasty Gal has a global presence in 180 countries and a social media following of over 3.5 million. For more information on Nasty Gal, visit the company website at www.nastygal.com
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