Adore Me Raises $8.5 Million In Series B
Adore Me is an e-commerce company that is known for selling women’s lingerie and swimsuits. The company has raised $8.5 million in Series B funding. The funding was provided by Upfront Ventures, Mousse Partners, and Redhills Ventures. Adore Me has raised a total of $11.2 million in funding. Adore Me is known for being able to rapidly build new collections and distribute them. Adore Me will be using the funding to build their team and inventory budget.
The company uses a rapid manufacture to retail cycle where the company launches a new 30-40 piece collection per month with a price point of around $39.95 for a matching set. Victoria’s Secret generally puts together two major collections per month.
Morgan Hermand-Waiche was able to balance their diversity of products and inventory by hiring designers that are well versed in bra manufacturing. They use a prototype to design different shapes and styles without having to tweak the production that much.
Adore Me has grown around 40-50% month-over-month in 2012 and early 2013. The company hit their 100,000th shipment in under one year.