WWD.com/business-news/direct-internet-catalogue/fluid-gets-24mn-investment-from-goldman-5715869/
government-trade
government-trade

Goldman Sachs Makes $24M Investment in Fluid

Funds will be used by the e-commerce platform solutions firm to hire additional staff, to further its research and development goals and for marketing.

E-commerce platform solutions firm Fluid Inc. has received a $24 million investment from funds managed by Goldman Sachs Asset Management.

Goldman is Fluid’s sole investor in the current round of financing. Proceeds from the investment will be used to hire additional staff, further its research and development goals and for marketing.

Fluid helps its retail customers with their e-commerce sites through software that integrates the digital shopping experience with social networking.

According to Kent Deverell, Fluid’s chief executive officer, “Better than 50 percent of our customer base is in fashion. Elie Tahari, Boston Proper, Lancôme, Bare Escentuals, Nine West, Rachel Roy and Vans are customers….Charlotte Russe hired us to completely redesign their [Web] presence.”

Deverell noted that Fluid is working with Brooks Brothers to do its product customization platform for online shoppers for their custom-tailored shirts and suits. Deverell sees mass customization as a big “emerging category” for Fluid.

Overseas customers include Club 21 in the retail and apparel space.