Dive Brief:
- 11 Honoré, an online retailer of luxury plus-size apparel for women, on Wednesday announced $10 million in new funding that the startup said will further growth in its personal styling services, development of inclusive sizing at apparel brands and curation of more brands.
- Nordstrom has joined a group of investors in the funding round, according to a press release from 11 Honoré emailed to Retail Dive. Led by Greycroft Partners, other investors include GC1 Ventures, Forerunner Ventures, Upfront Ventures, Canvas Ventures and Redpoint Ventures.
- The department store this week will also host 11 Honoré trunk shows in Chicago and Nashville, Tennessee. The shows will expand to Atlanta, Detroit and other locations next month.
Dive Insight:
11 Honoré was founded two years ago on the premise that luxury apparel and personal styling services have neglected a lucrative fashion segment by relegating their target market to a narrow range of sizes.
The startup has come a long way in that short time, debuting this year at New York Fashion Week. Founder and CEO Patrick Herning in an interview with Retail Dive earlier this year said that "showed the evolution of the conversation."
But that NYFW appearance, and this latest funding round with money and other support from Nordstrom, also demonstrate the strength of the company's rationale. With so little attention given to women of diverse body types for so many years, the apparel industry, particularly in luxury, is behind the curve in design and manufacturing. 11 Honoré, like Universal Standard, is helping fill that gap by working behind the scenes with designers and factories to ensure that garments are appropriately patterned, structured and constructed.
Another key line of business for 11 Honoré is its styling service, which the company says "works closely with a diverse group of women including CEOs, VIPs and their stylists, doctors, artists, and fortune 500 C-Level executives." Greycroft's Founding Partner Dana Settle, who according to the release steered this latest funding round, pointed to that as in focus for expansion.
"11 Honoré has changed the landscape of dressing for women offering inclusive sizes from high-end designers," she said in a statement. "This round of investment propels 11 Honoré's business forward by integrating a strategic commercial partner who has the ability and regional doors to adapt 11 Honorè's excellent client services on the ground through a series of initiatives in the coming year."
That also fits with Nordstrom's strategy to offer services like styling and tailoring, both at its stores and through its subscription Trunk Club, to draw in customers and expand sales. In fact, Trunk Club was previously among Greycroft's more than 300 investments, along with Shipt, TheRealReal, Thrive Market and Venmo, according to the release. Nordstrom acquired the apparel subscription and styling service in 2014 but had to work to rehabilitate it in recent years after steep losses.
Small Business
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Daphne Howland, Khareem Sudlow
