Shop Hers, a resale site geared for designer labels, has secured its Series A financing with the help of Bono.
The financing totals $3 million. It was led by Floodgate’s Mike Maples Jr. and Ann Miura-Ko, and includes investments by Bono and three other executives from Elevation Investors, plus David Tisch of The Box Group, Aldo Manzini and a few others, according to Shop Hers founder Jaclyn Shanfeld. Two seed round investors — Shana Fisher of High Line Venture Partners and a board partner at Andreessen Horowitz, and Mike Hirshland of Resolute VC — also contributed to the more recent financing.
Nearing 450,000 users and offered in 129 countries as of two months ago, Shop Hers charges an 18 percent transaction fee. On the site, sellers set their own prices and each seller must cover the cost of shipping its goods to the company’s headquarters to be authenticated within two or three days. Once an item is sold, the buyer’s credit card is authorized but is not charged until the item is vetted. “We do all the fulfillment,” Shanfeld said. “Before we started the company, we realized we will have to be the policemen. We will have to vet everything. But the seller knows there is no point trying to sell fakes.”
The site aims to play up the social side by matching women who share a similar size and sense of style through its Style Soulmates feature.
Manzini, a former Disney executive, connected Shanfeld with Elevation Partners. After meeting with her and offering his financial support, he put her in touch with Patty Wexler, an adviser to Elevation Funds. A few days later, Shanfeld hopped a flight to Palo Alto, Calif., to meet with three Elevation executives, who each invested individually.
The site offers apparel, accessories and footwear from 500 designers and brands. “We want to give women the ability to buy things they love, knowing that the item will have a second, third or fourth life,” Shanfeld said.
Shanfeld cofounded the company about a year ago with Jenna Stahl, a former nordstrom.com executive who is now Shop Her’s creative director, and Thanh Khuu, who worked as ShoeDazzle’s chief technology officer before becoming Shop Her’s chief operating officer.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)