Enjoy raises $150m for UK expansion
Written by Hannah McGrath
Enjoy, the e-commerce startup co-founded by former Apple VP of retail operations Ron Johnson, has raised $150 million to support its expansion in the UK.
The US company, which has launched an on-demand mobile retail platform, stated the Series C round brought total investment since launch in May 2015 to more than $350 million.
Investment was led by LCH Partners, the new consumer technology platform launched by venture capital company L Catterton.
The company also announced its aim to serve over 80 per cent of UK households in 2020 with Enjoy Partner, EE, a British mobile network operator and part of British Telecom Group. Plans are also underway to expand to one more country this year and additional countries in 2020.
Johnson explained that Enjoy’s e-commerce platform aims to combine the convenience of online shopping with the personal service provided by physical stores, harking back to his development of the Genius Bar concept for Apple. The idea is to “deliver the on-demand store to the customer’s home with a trained expert”.
Customers who purchase products with an Enjoy Partner such as Google, Sonos and EE can elect to have expert delivery and setup, often the same day, free of charge with the ability to purchase additional product solutions, just as they would in a physical store.
Johnson, chief executive and co-founder of Enjoy, said: “One of the highlights of my retail career was creating a new channel for Apple customers, which was the Apple Retail Store.
“Now I get to do it again by creating the mobile retail store for not just one company, but for many great companies around the world.”
Michael Chu, global Co-chief executive of L Catterton, said: “By extending the retail experience to the customer’s home with a team of on-the-go, full time employee experts, Enjoy has a tremendous opportunity within the evolving, connected, and increasingly personalized retail landscape.”