Bowling Green, Kentucky-based Pink Lily, an online fashion retailer, has secured an undisclosed amount of private equity funding. The investors were not named.
BOWLING GREEN, Ky., April 18, 2019 /PRNewswire/ — Pink Lily, one of the fastest-growing online fashion retailers in the country, announced today that it has received a significant minority investment from private equity investors focused on partnering with fast-growth e-commerce businesses. The investment will be used to expand Pink Lily’s product offerings, attract and acquire additional talent and support operations to capitalize on the company’s current growth opportunity.
“We are extremely proud of the brand we have built and the record growth we have achieved for five consecutive years,” said Chris Gerbig, Co-Founder and President. “We also recognize the tremendous market opportunity ahead of us as we meet the demands of our more than 1 million customers. We are very excited to partner with this group of private equity investors and e-commerce experts as we continue to scale the business and execute our vision to make Pink Lily a household name globally.”
This is the first round of funding for the Pink Lily Boutique. While the Company has not disclosed annual sales, Pink Lily has surpassed more than $70 million in total sales since beginning in 2014. Over the past five years, annual sales have increased consecutively each year and the company recently doubled the footprint of its fulfillment center in Bowling Green, KY to more than 50,000 square feet of office and industrial space. Over the past three years Pink Lily has achieved 265% growth and the business was recently named to the Inc. 5000 list of the fastest growing companies in America.
“We are humbled by the success of Pink Lily and the engagement we see from our customers not only as shoppers but as active followers on social media, providing us with constant feedback, insight and inspiration. They are instrumental in everything we do, from the styles we bring on each season to the product categories we curate and the styling ideas we feature on our homepage,” said Tori Gerbig, Co-Founder and CEO. “We are thrilled to work with this group of private equity investors who bring a wealth of global retail experience to the table. As we enter the next phase of Pink Lily’s growth, this financing will enable us to continue engaging with our customers in new and innovative ways while bringing the Pink Lily lifestyle to even greater audiences.”
Pink Lily is led by husband and wife team, Chris and Tori Gerbig, who combined their passion and expertise in fashion, business operations, finance, sales and social media, to successfully scale the business into a leading online clothing boutique, offering high-quality fashion and accessories, many of which are produced or finished in the USA. Since the company’s inception, Pink Lily has focused on building a community of loyal fans that love the company’s product offerings. This strong support coupled with regular engagement on social media has led to viral growth. Rising from humble beginnings in Facebook groups, Pink Lily now engages more than 1.5M Facebook followers and 500,000 Instagram followers who help drive new looks on the site and participate in user-generated content on the company’s homepage with #pinklilystyle.
About Pink Lily:
Pink Lily is one of the fastest-growing online fashion retailers in America, featuring a wide assortment of colorful and trend-driven women’s clothing, shoes, swimwear and accessories. Headquartered in Bowling Green, KY, Pink Lily is led by husband and wife co-founders Chris and Tori Gerbig. Please visit www.pinklily.com, www.instagram.com/thepinklilyboutique, www.instagram.com/torigerbig, and https://www.facebook.com/thepinklilyboutique/ to learn more about Pink Lily.