- Something Navy, a brand founded by social media influencer Arielle Charnas, recently announced that it raised $10 million in funding
Social media influencer Arielle Charnas is also known for founding a rapidly growing brand called Something Navy. Recently, Something Navy raised $10 million in funding as part of a deal that values the brand at nearly $45 million. Silas Chou — one of the early investor partners of Tommy Hilfiger and Michael Kors — participated in this round, according to Business Of Fashion.
Box Group, M3 Ventures, Third Kind Ventures, and Rent the Runway co-founder Jennifer Fleiss had also joined the round — which is considered one of the biggest funding rounds that was raised by an influencer. This round of funding will be used to accelerate the growth of the direct-to-consumer brand.
Charnas, 32, started out the brand by launching a Something Navy blog about ten years ago. And now Charnas has 1.2 million followers on Instagram. Charnas also recently hired cashmere brand Naadam co-founder and CEO Matthew Scanlan as the CEO of Something Navy.
Something Navy will have a drop of 10 to 20 core styles every 30 to 40 days. And the plan is to open up a network of brick-and-mortar stores. Charnas made a Nordstrom collection debut in September 2018 — which saw $4 million in sales and caused the retailer’s e-commerce website to crash due to a rush in traffic.
Trending on Pulse 2.0
- How Huda Kattan Built A Beauty Brand Worth More Than $1 Billion
- Detroit-Based Huron Capital Names Anthony Pulice As Partner
- Report: Getaround Is Raising Over $200 Million At More Than A $1 Billion Valuation
- GM Names Deborah Wahl As Chief Of Global Marketing
- Farm Management Platform Company Fieldin Raises $12 Million