Friday, July 12, 2013

Fashion News: Victoria's Secret has competition coming...Adore Me

Uh oh looks like Victoria's Secret has some tough competition coming for you number one spot!

Lingerie ecommerce site Adore Me has already raised $8.5 million in a Series B round of funding. Morgan Hermand-Waiche, CEO and founder of Adore Me said people are tired of high prices and slow-fashion from Victoria's Secret, so they are following the same fast-fashion formula as Zara, which is working in their favor.

They are also using the same ecommerce setup as the BeachMint brands. You know with the monthly fee {avg, $39.95} and free shipping both ways {US only}, but anyone can purchase the VIP monthly membership.

It's funny how Adore Me launched in early 2012 and has already raised a total of $11.2 million, with $500,000 seed money helping them get off the ground.

That's some serious dough, but do we really think this is big competition for Victoria's Secret?

The Next Web

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