Boticca, a fashion accessories site that is backed by MMC Ventures and ISAI, said Monday that it has acquired L’Atelier De La Mode. No financial terms were disclosed. Based in Paris, L’Atelier De La Mode is a fashion designer marketplace.
Boticca, the world’s luxury bazaar of fashion accessories, announced today that it will extend its international reach with the acquisition of L’Atelier De La Mode, a leading Paris-based fashion designer marketplace, and the launch of its French website Boticca.fr, its first non-English language website.
The announcement follows the recent closing on September 5th of Boticca’s US$4million Series A financing from UK-based VC firm MMC Ventures, existing investors ISAI, a France-based entrepreneurs fund, and high net worth individuals in Europe, the Middle East and Asia.
Launched in 2008 by Jonathan Lipfeld, L’Atelier De La Mode has garnered close to 100,000 customers in France which now brings Boticca’s own database to 500,000 customers globally. L’Atelier De La Mode’s website has already been redirected to Boticca.fr. No employees from L’Atelier De La Mode will be joining Boticca as part of the transaction.
Having raised investment funds to begin offering local language versions of the website, the fast-growing business wasted no time by setting its eyes on the French market first. “France was the logical geography for us to begin our internationalization strategy”, says Kiyan Foroughi, Boticca CEO and co-founder “it’s our number one non-English speaking market, fourth globally in terms of sales after the US, UK and Australia. The French market is full of potential and we look forward to making the most of it”. Both co-founders are French, grew up in Paris and investment fund ISAI includes the most prominent Internet entrepreneurs in France.
This expansion further internationalizes an already global business currently with 50% sales from Europe, 30% from North America and 20% from Asia Pacific and the Middle East. 55% of all transactions are intercontinental, with the designer on one continent and customer on another and last month alone, Boticca brands shipped their products to customers in 90 different countries. Furthermore, Boticca’s team of 20 employees in London is as culturally diverse as the website with 13 different nationalities represented and 14 languages spoken fluently.
“France has also been a formidable source of design talent for us. From the start, we’ve been helping young French brands conquer overseas markets with 30 of our brands being based in the country”, adds Avid Larizadeh, Boticca.com COO and co-founder. “Due to France’s rich tradition in fashion and design, it’s no wonder that our French brands have been extremely popular with our customers worldwide.” One such brand is Paris-based Mademoiselle Felée who beyond Europe has regular customers in over 25 countries including the United States, Hong Kong, Japan, South Korea, the United Arab Emirates and Australia through the website. Aurore François, the brand’s founder, says: “Boticca was the first website to showcase my work and really do it justice. I love the closeness with customers, the freedom in terms of how I manage my profile, and the team are real marketing gurus. I have customers in all four corners of the world, a lot of whom have become loyal, repeat customers and have provided valuable feedback to my business”.
Since launching in October 2010, Boticca has established itself as a pioneer and architect of a new kind of commerce where customers can connect with, and purchase directly from, professional small and medium brands all over the world. Boticca has sourced over 330 creative independent designers and emerging brands, and now offers more than 10,000 products from 40 countries around the world on every continent. Far from being a typical e-commerce company, Boticca is a curated marketplace with the highest standards of product selection, exciting web design and travel-infused editorials which bring out the individual stories of the designers and pieces featured.
As a marketplace, the company benefits from advantages such as flexibility in product offering, no inventory or logistics commitment and proprietary merchandise, while its polished shopfront and editorial content creates a delightful environment akin to one of a highly curated fashion retail store.
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Boticca is the world’s luxury bazaar of fashion accessories with more than 330 independent designers and emerging brands from 40 countries and over 10,000 pieces available to buy. The website was launched in London in October 2010 by Kiyan Foroughi and Avid Larizadeh. Boticca is a highly curated marketplace which takes customers on an inspiring journey across the world via its editorial content to celebrate the best fashion accessories brands and connect them with customers in over 90 countries, thus bypassing traditional retail channels and their heavy margins. Every week between two to three new accessories designers and brands are handpicked by Boticca’s globetrotting Style Hunters and launched on its website. Boticca brands already have an impressive celebrity following, including Cara Delevingne, Cameron Diaz, Eva Longoria, Rita Ora, Olivia Palermo, Pippa Middleton and many more.