Dôen, the California-inspired lifestyle brand, reported raising a growth equity Series A round led by venture firm Silas Capital. The company did not disclose the funding amount but said the investment “marks a significant milestone for the brand as it accelerates retail expansion, enhances infrastructure and deepens its connection with a growing global customer base.
Before the funding round, Dôen had “only raised [approximately] $1 million in outside capital and has organically built a $100M+ revenue business.”
Silas Capital has invested in Makeup by Mario, Proenza Schouler and Casper.
Founded by Santa Barbara-born sisters Margaret and Katherine Kleveland, Dôen launched in 2016 as a direct-to-consumer label offering women’s apparel, footwear, and kids’ wear. Since then, the line has expanded to include outerwear, denim, swim, tees, sleep & loungewear, delicates, and a home capsule collection.
The brand first launched with its wholesale partner, Net-a-Porter, in 2019, followed by domestic partnerships with Saks Fifth Avenue and Nordstrom. Dôen continues to scale internationally, with placements in Le Bon Marché (France), Harrods (UK), Holt Renfrew (Canada), SKP (China), Ounass (UAE), Tom Greyhound (South Korea), Bongénie (Switzerland), and over 150 specialty stores globally.
The company currently operates seven brick-and-mortar stores, including recent openings in Marin, CA and Nantucket, MA. Retail sales, in aggregate, are reported to have “grown 80 percent year-over-year, while comp store sales are up 46 percent, with 65 percent growth at its Bleecker Street store in New York City.” Overall, the business continues to grow with a reported “40 percent YoY growth in e-commerce and wholesale bookings up 110 percent YTD.”
“This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision for growing Dôen,” said Margaret Kleveland. “Silas Capital has a strong track record of supporting authentic, organic community building and helping their portfolio companies scale in thoughtful, sustainable ways. We couldn’t be more excited for what’s ahead for Dôen.”
“Dôen is truly an exceptional brand — seamlessly blending its timeless appeal with product that offers both sophistication and practicality,” said Brian Thorne, partner at Silas Capital. “We see tremendous potential to help grow their deeply loyal community by amplifying e-commerce momentum and further scaling the highly productive retail footprint. We are thrilled to partner with Margaret and Katherine at such a pivotal moment in their journey.”
Image courtesy Dôen
