New York-based luxury e-commerce concept Moda Operandi – that allows shoppers to pre-order collections straight from the catwalk before they go on sale the following season – has so far raised $60 million, which will be used to grow its presence in key markets such as Europe, Asia and the Middle East, improve its mobile technology, loyalty programme and customer acquisition and develop new brand relationships.
The financing was led by asset manager Fidelity Investments, with investment also coming from existing shareholders including New Enterprise Associates and Advanced Publications, the parent company of Conde Nast. Other current shareholders include New Atlantic Ventures, LVMH and RRE Ventures.
“The continued success we have experienced demonstrates the strength of international luxury consumers and their demand for the exceptional assortment of product, access to brands and runway collections that only Moda Operandi can provide,” says chief executive Deborah Nicodemus. “We are thrilled with the support our investors have shown us, and look forward to continuing transforming the online luxury shopping experience for our clients all over the world.”
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