Jewelry e-retailer BaubleBar raises $20 million
26.01.2016 348 views
An online fashion jewelry retailer has added some sparkle to its bank account.
BaubleBar, which sells necklaces, bracelets and other jewelry online, raised a $20 million Series C funding round. The round was led by venture capital firm Accel Partners and Burch Creative Capital, founded by Christopher Burch. Burch also co-founded online office supplies retailer Poppin.com, No. 568 in the Internet Retailer 2015 Second 500 Guide.
This latest round of funding brings the total raised by BaubleBar to $35.6 million since its launch in 2011.
“This round supports the growth of the BaubleBar business, specifically within marketing and business development as well as key hires across the organization,” a BaubleBar spokeswoman said via email. She declined to say how many additional employees the retailer will hire or identify growth strategies. The spokeswoman also declined to provide the e-retailer’s 2015 sales figures.
BaubleBar opened its first physical showroom in Long Island’s Roosevelt Field Mall last summer. A Baublebar spokeswoman says the company recently closed the 1,200-square-foot location, but that the showroom’s brief run provided BaubleBar with valuable intelligence.
“It provided the brand with useful data around mall format and how that differs from stand-alone [stores], which was a key driver for opening that location,” she says. “Now, we feel well-armed with information to think through what BaubleBar retail should look like.”
Source: Internet Retailer