Online luxury fashion retailer Moda Operandi Inc. has raised $165 million ahead of the holidays.
The funding round was led by entrepreneur Adrian Chang and private equity firm Apax Digital. This brings the amount of money raised by Moda Operandi since launching in February 2011 to $297 million. Moda Operandi says its business has more than tripled since 2014.
The retailer plans to use the new funds to improve its mobile offerings and expand its product offerings, though it did not go into more detail.
“We believe our unique operating capabilities and global platform can help drive the business even further and accelerate its international presence,” says Dan O’Keefe, Apax Digital managing partner.
In other e-commerce news:
- Luxury apparel and accessories group Kering, No. 151 in the Internet Retailer 2017 Europe 500, hired eBay Inc.’s Gregory Boutte as its new chief client and digital officer, where he will be responsible for driving the group’s e-commerce growth. Boutte was most recently vice president of content at online learning platform Udemy. He spent more than a decade with eBay, most recently as vice president of eBay Motors and Electronics, North America.
- Edible Arrangements LLC, No. 116 in the Internet Retailer 2017 Top 500, promoted Kaitlin Reiss to chief marketing officer from vice president of e-commerce. Reiss has been with Edible Arrangements for more than 12 years. The retailer credits her with helping grow Edible Arrangements’ e-commerce sales, which now account for 65% of its business.
- PetSmart Inc. (No. 365) hired Joshua Kanter as its new executive vice president of marketing, where he will help bridge the gap between PetSmart’s store locations and e-commerce site. Kanter was most recently senior vice president of marketing strategy at cruise ship line Viking Cruises. He also has held positions with consultancy McKinsey & Co. and casino entertainment company Caesars Entertainment.
- Hudson’s Bay Co. (No. 81) has named Milton Pappas as its chief marketing officer. Pappas had held the title on an interim basis since June. Pappas joined Hudson’s Bay in September 2016 as its senior vice president of digital marketing. He previously was chief digital officer at women’s apparel retailer New York & Co. (No. 164). Pappas has also held management-level positions at Nine West Holdings Inc. (No. 215) and Toys R Us Inc. (No. 38), among others.