Venture capital firm Kleiner Perkins has invested $30 million in direct-to-consumer apparel brand Untuckit.
The new round of funding — a Series A, with Kleiner as the sole investor — will help the company broaden its women’s line and expand into children’s apparel. The line, started in 2012, began with a men’s collection of shirts designed to be worn untucked. The company has since expanded its men’s assortment to include sweaters, polos, jackets, sweatshirts, performance-wear, T-shirts and henleys. According to the company web site, part of the design difference between shirts currently offered and those from the brand include a contoured hemline and the length ending at the middle of the pant zipper to partially expose the pockets. It began offering a women’s line this past spring.
Mood Rowghani, general partner at Kleiner Perkins, said, “There is a renaissance happening in retail that favors brands who can directly connect with and understand their consumers.” He added that Untuckit has a synergy between online and offline that connects with consumers in the physical and digital worlds.
In addition to the company’s web site, there are also eight stores: One each in New York; Chicago; Los Angeles; San Francisco; Austin; Dallas; King of Prussia, and St. Louis.
The company was founded by Chris Riccobono and Aaron Sanandres. It offers a 20 percent discount off the first online order, as well as free shipping and free returns within the U.S. Prices range between $60 and $78 for the best-selling shirts in the men’s line, while the women’s shirts range from $88 to $118 depending on fabrication.
Kleiner’s investments in the consumer and retail categories have included Google, Amazon and JD.com.
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