Home / Knowledge / News / Retail / Hero generates $10m Series A funding

Hero generates $10m Series A funding

10
Aug '19
Pic: Hero
Pic: Hero
Hero, the platform which began its journey in London, has generated $10m Series A funding to invest in reinvention of retail. Led by S28 Capital in San Francisco, with participation from Vectr Ventures in Hong Kong and DIP Capital in London, the round also included investment from prominent strategic investors across retail and technology.

As part of the investment, Kent Ho, founder and general partner at S28 Capital, joins Hero’s board of directors. They will join existing investors including Yasunobu Kyogoku, former chief investment officer of Fast Retailing and founding partner of Innovation Global Capital; Iain McDonald, non-executive director of boohoo.com and The Hut Group; and the family office of Dickson Poon, chairman of luxury department store Harvey Nichols and Dickson Concepts.

“Brick-and-mortar is the new battleground, as proven by the expansion in to physical stores by Amazon and a slew of DTC brands including Warby Parker, Glossier and Casper,” Hero founder Adam Levene said in a blog.

“However, to find sustained growth, modern stores must be digitally-enabled; to sell online, to motivate staff with new compensation models, to locate and deliver stock faster, to build a 360 view of the customer, to enable effortless payment and seamless returns, to nurture client relationships through clienteling and to ensure that every single conversation — whether in-store or in person — turns into a sale,” Levene said.

“This round of investment will fuel the creation of new innovation that accelerates this digital transformation, while marking our dedication to building a global company that enables our retail partners to thrive in the long-term — maximising what has always been the physical store’s most unique advantage; the ability to build human connections, now in new ways,” Levene added.

From customers looking to buy gifts for loved ones, getting expert beauty tips online, renovating a new home, buying their first prom suit or making shopping more DDA friendly— Hero empowers deeply personal interactions across the globe.

“Reflecting back on our three year journey and all that we have achieved to-date, it’s probably what we’re most proud of — bringing the humanity back to commerce. All while making global retail more efficient, effective and personal than it’s ever been,” Levene said.

Hero started its journey in London with one of the most admired department stores in the world, Harvey Nichols, empowering hundreds of their associates to sell and earn digitally, in the same way they do with customers in store. “We soon rapidly expanded; forging partnerships with the largest retail groups in the world including Nike, LVMH, Richemont, Levi’s and Gap, along with upstarts like Credo Beauty, the fastest growing clean beauty retailer in the US,” Levene said. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 29th Oct 2020

Bangladesh restored 40% of cancelled RMG orders: minister

Bangladesh foreign minister AK Abdul Momen recently said the...

Pic: Shutterstock

Textiles | On 29th Oct 2020

Uzbek trade body, Indonesian textile firm mull cooperation

Representatives of the Uzbekistan Textile and Garment Industry...

Pic: Shutterstock

Textiles | On 29th Oct 2020

PRC unofficially boycotts Australian cotton, imports halt

All cotton exports by Australia to China have reportedly stopped...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Textile industry, Head honchos

Textile industry
Head honchos

Quality should be the #1 priority

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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


October 2020

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


Advanced Search