Moda Operandi Announces $10 Million in Series B Financing

NEW YORK, June 27, 2011 /PRNewswire/ -- Moda Operandi, the first online luxury retailer to allow members to pre-order from the most respected designers immediately following their runway shows, announced today that has raised $10 million in funding. The Series B financing is led by New Enterprise Associates (NEA), one of the world's leading venture capital firms. New Atlantic Ventures (NAV), the lead investor from the Series A round of financing, is also investing in this round. The new financing is designed to support continued growth and expansion at Moda Operandi.

"Since our launch in February, our unique pre-order model has attracted exceptional interest and international demand from both exclusive designers and discriminating customers. As we focus on growth, we recognize the importance of building an infrastructure that will allow us to continue to offer the highest levels of brand positioning for our partners and personalized customer service for our members," said Aslaug Magnusdottir, CEO and co-founder of Moda Operandi. "We are very excited to gain the support of investors with the kind of stature and vision as NEA in this round of funding and look forward to activating this investment to the benefit of our brands and members."

"NEA is excited to invest in Moda Operandi, a company that presents a distinctly unique value proposition for both designers and consumers," said Tony Florence, a partner at NEA.  "Moda Operandi is partnering with the world's most acclaimed designers due to the founders' deep relationships and expertise in the fashion industry, and in return, brands secure access to Moda Operandi's highly valuable and targeted membership base of consumers."

"We invested in Moda Operandi when it was simply a concept and are funding them again because of the company's remarkable traction," said Thanasis Delistathis, managing partner, New Atlantic Ventures. "Moda Operandi represents this new era of ecommerce that gives consumers direct and unprecedented access to coveted fashion over the Web."

About Moda Operandi

Moda Operandi is the first online luxury fashion retailer to allow members to pre-order tomorrow's styles today. Working closely with the world's top designers such as Marc Jacobs, Isabel Marant, Proenza Schouler, Vera Wang and Missoni; Moda Operandi provides fashion trendsetters with access to complete collections from the finest brands - including exclusive ready-to-wear, accessories and jewelry - immediately following their runway show. With membership perks that include recommendations from top stylists, access to a personal shopping assistant, and tools to review looks from every angle, Moda Operandi puts its customers front row at the runway, from the comfort and privacy of home. Moda Operandi is the outgrowth of a passion shared by founders Aslaug Magnusdottir and Lauren Santo Domingo; to help designers build successful brands by connecting them to the women who cherish them. For more information visit www.modaoperandi.com

For further information:

Arturo Diaz
Director
HL Group
Tel: (646) 274-3628
adiaz@hlgrp.com

SOURCE Moda Operandi



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