Untuckit, which specializes in men’s shirts designed to be worn untucked, has raised roughly the same amount in funding that it generated in online sales last year. The apparel manufacturer and retailer says it plans to expand its product offerings and its offline presence.
Untuckit, No. 549 in the Internet Retailer 2017 Top 1000, attracted a $30 million investment from venture capital firm Kleiner Perkins. Kleiner Perkins also led grocery delivery app Instacart’s $220 million Series C funding round in January 2015.
Untuckit has eight stores in the United States, with a ninth planned for Philadelphia in the near future. With this latest round of funding, the retailer plans to add 15 locations while also growing its product line to include children’s apparel and an expanded selection of women’s apparel.
“Untuckit demonstrates a special synergy between online and offline that touches consumers in both their physical and digital worlds,” Kleiner Perkins general partner Mood Rowghani said. “This has profound benefits to merchandising, design, marketing and customer happiness.”
Untuckit had an Internet Retailer-estimated $30 million in online sales last year, up 14.9% from $26.1 million in 2015.
In other e-commerce news:
- BJ’s Wholesale Club, No. 297 in the Internet Retailer 2017 Top 500, made a pair of executive hires designed to make the retailer more competitive online. BJ’s had an Internet Retailer-estimated $97.9 million in online sales last year, up 12.0% from $87.4 million in 2015. The regional warehouse club hired Rafeh Masood from sporting goods retail chain Dick’s Sporting Goods (No. 56) to be its first-ever chief digital officer. Masood had spent nearly four years at Dick’s as the retailer’s vice president of customer innovation technology. He also has done two separate stints at Sears Holdings Corp. (No. 19). BJ’s also named Scott Kessler as its new chief information officer. Kessler was most recently chief information officer at Belk Inc. (No. 89), a position he left in October. Current chief information officer Peter Amalfi will retire in the near future. “Both Scott and Rafeh have extensive experience in building teams and delivering the technology and systems that drive growth,” BJ’s CEO Chris Baldwin said. “They will lead the investment in technology, people and systems as we build the omnichannel and digital platforms that showcase our value and deliver convenience to our members.”
- Children’s specialty apparel retailer The Children’s Place (No. 110) hired John Sullivan as its chief transformation officer, a newly created position. Sullivan starts next week. His job responsibilities will include leading the retailer’s continued omnichannel transformation, as well as overseeing information technology and logistics. Sullivan was most recently chief operating officer at Ascena Retail Group (No. 77). He also has worked as QVC Group’s (No. 7) chief information officer.
- The Pennsylvania Department of Revenue announced late last month that Wayfair (No. 16) had begun collecting sales tax in the state at the beginning of May. A Wayfair spokeswoman declined to comment. Wayfair now collects sales tax from residents in 12 states, including California, Illinois and New York.
- Apparel manufacturer VF Corp. (No. 91) named Chris Waldeck president of its Lee denim brand. Waldeck comes from Reebok, where he spent more than 13 years, most recently as general manager of Reebok USA.
- Amazon.com Inc. (No. 1) in early June said will open another fulfillment center in California, its 11th, in Fresno. The 855,000-square-foot facility will handle smaller goods.
