Shoes4you, the first fashion brand in Brazil to sell exclusive collections through monthly online subscriptions, announced that the company has received Series A financing, led by Redpoint Ventures and joined by Accel Partners. The investment will support the upcoming launch of the company in September and continued efforts to bring a more personalized shopping experience to customers.
“Shoes4you will revolutionize the Ecommerce market in Brazil through the creation of the first online fashion brand paired with a fully personalized customer experience,” said Olivier Grinda, CEO and co-founder. “We are thrilled to partner with leading global venture capital firms like Redpoint and Accel whose deep capital bases and experience rapidly scaling global ecommerce brands will enable us to pursue an aggressive rollout across Brazil.”
The Shoes4you brand will be exclusively sold online to a premier customer base and the company has plans to launch 12 collections per year and hundreds of sub-collections to match the unique tastes of its clientele. “Our team has the leading professionals in fashion, who are always on top of the latest trends, meaning our merchandise will cater directly to our customers' individual taste and style,” said Priscilla Whitaker, Chief Merchandising Officer at Shoes4you.
Jeff Brody, Partner at Redpoint Ventures, who will join the Board of Directors notes: “The demand for shoes, apparel and other fashion accessories on the Internet is exploding in Brazil. The opportunity to partner with such an experienced and motivated team to introduce the subscription Ecommerce model to Brazil is truly exciting.” Kevin Efrusy, Partner at Accel added: “Brazil has rapidly become one of the most important markets for virtually all of our internet companies, and Olivier is someone we are excited to build a company with.”
The investor syndicate also includes participation from Flybridge Capital Partners and Romero Rodrigues (CEO and co-founder of BuscaPe), as well as IG Expansion, a Spain based investment company that helped found Shoes4you in May 2011, together with Fabrice Grinda (CEO and founder of OLX).
