ModeWalk.com Attracts $1.8 Million in Series A Financing to Offer the Most Immersive Luxury Shopping Experience Online
Jan 24, 2012, 10:13 ET
PALO ALTO, Calif., Jan. 24, 2012 /PRNewswire/ -- ModeWalk, the world's most immersive online shopping experience to offer consumers the best in luxury retail from cities around the world, announced today that it has attracted over $1.8 million in funding led by Merus Capital with additional investments from prominent Silicon Valley angel investors and luxury industry executives. This Series A financing is designed to accelerate development of technology, support merchandising and advance the marketing initiatives of ModeWalk.
"We are excited to partner with ModeWalk as they re-define luxury shopping online. The ModeWalk experience brings shoppers into the world of luxury brands with all the charm and sense of discovery that one might find in a Parisian boutique. The high end of luxury fashion has been slow to move online - we think ModeWalk will change this," said Sean Dempsey, a partner at Merus Capital.
ModeWalk is a by-city shopping experience that gives members an authentic insider point of view to the best in luxury goods, beginning with Paris. ModeWalk offers the most emotionally engaging e-commerce experience while affording luxury fashion brands the opportunity to share their unique perspectives and designs directly with members from around the world.
Brands curate their own space on the site, giving members a richer understanding of the brand identity and their designs. The site offers exclusive pieces, limited editions, and one-of-a-kind bespoke items. Through ModeWalk's unprecedented haute couture offering, members may reserve in-person couture appointments in Paris or can have the process facilitated locally through ModeWalk with the support of partner couturiers throughout the continental United States, and in the near future, in major international cities.
"At ModeWalk, we aim to create a more emotional and engaging way to shop online. Luxury goods have traditionally been sold through intimate interaction that highlights the art and craftsmanship associated with a particular product. ModeWalk allows luxury brands to directly reach a global audience and yet at the same time, foster a more in-depth relationship with these consumers through the sharing of stories, inspirations and behind-the-scenes views. In addition to increased brand awareness and global distribution, designers also benefit from more attractive economics with ModeWalk. We are thrilled to partner with Merus Capital and luxury industry executives to create a true luxury online shopping experience," adds Beatrice Pang, CEO of ModeWalk.
ModeWalk is an online luxury retailer that offers the most immersive shopping destination online. ModeWalk was founded by Beatrice Pang and Henri Deshays, who are both Stanford Graduate School of Business alumni, with experience in the technology and fashion industries respectively. Ragi Burhum and Mara Behrens, who bring years of experience in technology and creative direction respectively, are also part of the founding team. Indre Rockefeller, who is also of Stanford Graduate School of Business and formerly on staff at Vogue, serves as ModeWalk's Fashion Director.
ModeWalk.com is headquartered in Palo Alto, California with offices in Paris.
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