Home / Knowledge / News / Apparel/Garments / BeachMint set to launch next brand by Mary-Kate & Ashley
BeachMint set to launch next brand by Mary-Kate & Ashley
24
Jun '11
BeachMint has secured a $23.5 million round of funding led by Scale Venture Partners and Lightbank, the technology investment fund started by Eric Lefkofsky and Brad Keywell, cofounders of Groupon. Existing investors, New Enterprise Associates, Trinity Ventures, and Anthem Ventures also participated in the round. The new funding will be used to grow the existing brands, JewelMint and StyleMint (launching July 1), to accelerate the company's phenomenal growth and to expand into new categories.

Scale Venture Partners' investment is led by Managing Director, Sharon Wienbar, who will be joining the company's Board of Directors. "Consumer e-commerce is being transformed by social networking and curation,” said Wienbar. "BeachMint is redefining online shopping by taking advantage of these trends to deliver great consumer value. We are excited by the amazing traction Beachmint has achieved in a short time with JewelMint."

BeachMint's rapid growth and unique business model was recognized immediately by Lightbank's Partners Eric Lefkofsky, Brad Keywell and Paul Lee. Lee commented, "we saw a unique opportunity within BeachMint to dominate this innovative form of commerce. The growth is explosive and intriguingly familiar.” Lightbank will also obtain an Observer seat on the BeachMint Board.

This coming October will mark the one year anniversary of BeachMint's exclusive jewelry site, JewelMint - the company's first brand launched with style icon, Kate Bosworth, and celebrity stylist, Cher Coulter. In just a few weeks, BeachMint is set to launch its next brand, StyleMint, an apparel line, helmed by iconic designers, Mary-Kate and Ashley Olsen. BeachMint plans to launch two additional verticals by the end of 2011,with plans to expand in 2012.

Founded by MySpace Co-Founder, Josh Berman, and serial tech entrepreneur, Diego Berdakin, BeachMint will continue to innovate and re-imagine shopping combining exclusive products, social media, celebrity curation and proprietary technology.

Founded by serial tech entrepreneurs, Josh Berman (MySpace) and Diego Berdakin, BeachMint is an institutionally backed social commerce company for celebrity–curated direct-to-consumer products.

Scale Venture Partners


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search