It's been a landmark year for lucy, a growing women's activewear company, with the opening of 10 new stores, including its first East Coast locations; more than $20 million in series G financing; raising more than $16,000 to benefit breast cancer patients, and updating its online shopping experience.
“This has been a busy and exciting year for lucy,” said Michael J. Edwards, president and CEO of lucy activewear, inc. “We've had a number of significant accomplishments and look forward to continuing to increase lucy's presence nationwide in the coming year.”
With a strong presence throughout the West Coast, 2005 was the year that lucy extended its reach to include locations in Denver, Chicago, McLean, Va. and Washington, D.C. Opening 10 stores in all, the other six locations strengthened lucy's existing presence in California, with three additional stores; in Washington state, with a store in Redmond; in Oregon, with a new store just south of Portland; and in Arizona, with a second store in Scottsdale.
In July, lucy activewear closed a $20.3 million round of financing. Top-performing retailer Chico's FAS, Inc. joined existing investors Lone Pine Capital, Maveron LLC, Oak Investment Partners and Sutter Hill Ventures in the series G financing. Chico's purchased $10 million of the series G convertible preferred stock financing round and, in connection with this investment, secured a seat on the lucy board of directors.
In October, lucy observed Breast Cancer Awareness Month with a commemorative pink t-shirt. Available on lucy.com and in all retail locations, the shirt sold out within weeks. Ten percent of all sales were donated to Making Memories Breast Cancer Foundation, a Portland, Ore.-based organization that works to fulfill the dreams and wishes of metastatic breast cancer patients nationwide. In all, lucy donated more than $16,000 to the foundation.
This holiday, lucy enhanced its online shopping experience to better reflect the lucy brand and engage with its customers. Customers craving stylish activewear that moves effortlessly from workout to weekend can visit www.lucy.com for an improved experience — just in time for the holiday shopping season. With new navigation and shopping features, and the introduction of the lucy perfect fit guarantee, customers can expect an exceptional online experience that parallels the lucy retail experience.
