By Karen Moss
Carmen Busquets, the online luxury retail investor, has increased her investment in Moda Operandi. The e-tailer, which provides consumers access to top designers' collections directly from the runway, announced earlier this month that it completed a $36 million round of financing led by RRE Ventures.
As well as previous investors such as Carmen Busquets, New Enterprise Associates, New Atlantic Ventures, and CondeNast, the investment round also had the participation of new strategic investors such as LVMH and IMG.
The new financing will support the robust growth of the global retailer as it continues to add on brand partners. The company also announced that it plans to use the financing to launch in-season buying in the fall that will feature a highly curated selection of product across all categories.
Carmen Busquets says: “The Moda Operandi model of providing consumers with the opportunity to buy collections ahead of their official launch reminds me of how I built my first business in the luxury sector. When I started out in business the kind of technology we are seeing today was not available, but the growth of online has created opportunities for small niche brand to deliver luxury smarter, faster right across the globe.
"Aslaug and Lauren have used this technology to build a very exciting business which enables the customer to interact almost directly with the designers. They are now at the heart of informing Moda Operandi about their buying choices and even influencing the designers’ collections. This is an exciting niche and very different to what other businesses in the luxury space are currently offering. My belief is that Moda Operandi has great potential to grow into a global business and I am very pleased to support the Company in the next stage of its development.”
Áslaug Magnúsdóttir CO-founder and CEO of Moda Operandi, says: "Moda Operandi’s exceptional growth in the first year of business demonstrates the booming global demand for great design and the strong response we are witnessing from women worldwide to shop directly from the runway. We are pleased to be supported by such visionary investors as Carmen Busquets, one of the leading investors in online luxury retail.”