Outfittery raises 13 million EUR led by Highland Capital Partners Europe
OUTFITTERY raises 13 million EUR led by Highland Capital Partners Europe
Women-led start-up leader in cutting-edge online personal shopping site for men
Berlin, 17 February 2014. Outfittery, Europe’s leading curated shopping service, has raised EUR 13
million led by Highland Capital Partners Europe with participation from existing investors including Holtzbrinck Ventures, Mangrove Capital Partners, High-Tech Gründerfonds, RI Digital Ventures and VC fund Kreativwirtschaft managed by IBB Beteiligungsgesellschaft. Outfittery, founded by Anna Alex and Julia Bosch only two years ago, has transformed the online shopping experience for men, using personal shoppers to curate customised outfits, which are conveniently sent to the customer’s home.
Outfittery currently operates in Germany, Austria and Switzerland. The company plans to use the
investment to expand its high-quality men’s fashion line and further fuel its international growth,
including expanding into several more European countries this year “In a very short timeframe Outfittery has proven to be a major disruptor to the massive menswear category in Europe,” said Sam Brooks, partner at Highland Capital Partners Europe. “Its innovative focus on personalized curation is translating into hyper growth. We are excited to be partnering with such an exceptional team to help further accelerate expansion.”
In just two years, Outfittery has acquired more than 100,000 customers in what is only the beginning of a fundamental shift to online shopping. According to Datamonitor, the market for men’s fashion in Europe amounts to 100 billion EUR, but only 10 percent of those purchases are made online. That is rapidly changing, and Outfittery perfectly combines the advantages of brick and mortar retail (highly personalized service) with those of e-commerce (convenience), making the company very wellpositioned to continue its rapid growth.
“We are very proud to have gained anothervery renowned investor in Highland, supporting our vision and making it possible for us to continue to rapidly expand our market position,” said Outfittery founder Julia Bösch. “Our goal is to become the go-to online portal for men’s fashion in Europe. The cornerstones for our success are personalised service and uncompromising customer focus.”
Alex and Bosch founded the company in 2011 to help every man look his best without the pain of
shopping. Many men simply don’t have the time or desire to buy clothes and sometimes find the
typical e-commerce experience overwhelming. Outfittery has built a loyal customer base through firstrat customer service. With every outfit a customer buys or returns, his stylist gets to know his taste better and every customer receives hand-written notes from her. This highly detailed attention to the customer’s style and needs, which only becomes more personalized over time, is key to the Outfittery model.
OUTFITTERY makes it easier for men to shop for clothes on the Internet. Customers answer just a few questions about clothing style and sizes on www.outfittery.com. Thereafter, OUTFITTERY’s style experts contact customers personally and put together customised outfits, which are conveniently sent to the customer’s home. Whatever the customer likes, he keeps, sending back everything else. OUTFITTERY offers this innovative service at no charge. The company has 100 employees and is headquartered in Berlin. Fifty female style experts are dedicated to taking care of the customer's fashion desires. Currently, more than 150 top-quality fashion brands are on offer. OUTFITTERY has been in business since April 2012 and currently operates in Germany, Austria and Switzerland.