New York digital lingerie brand Lively hopes to grow scale backed by a fresh injection of funding.
The company today announced its raise of a $4 million seed round, bringing its total raised to date to $5.5 million.
GGV Capital, manufacturer Gelmart International and former Nautica Enterprises Inc. ceo and president Harvey Sanders led the round. Leandra Medine of Man Repeller also participated. Gelmart also handles manufacturing for Lively and invested in the company prior to the seed round.
“The general goal is to do what we’re doing now, but better and on a larger scale,” said Michelle Cordeiro Grant, who previously worked at Victoria’s Secret as a director and senior merchant before Lively’s launch in April.
Cordeiro Grant had the idea for a brand that would offer stylish, yet comfortable, Lively-branded bras and underwear in a wide range of sizes, pulling in designs from lingerie, activewear and swim hence the reason the business dubs its offering “leisurée.” The idea behind the brand could very well lend itself to easy expansion into other categories in the future, such as activewear and accessories, Cordeiro Grant pointed out. Timing on those launches isn’t certain with the company still focused on making sure it’s fully tapped the opportunity available to its bread-and-butter product line.
Lively’s largest customer group is 25- to 35-year-olds and within three weeks after launch, it was shipping to every state.
The company, which has a team of about eight, is looking to hire a head of operations and finance, developer, planner and marketing executive with the new funding.
It could also see the expansion into international markets, with the help of GGV Capital. The venture capital firm has invested in Airbnb and Alibaba and has platforms globally that Lively could potentially leverage and begin testing as early as next year, Cordeiro Grant said. Although, she tempered that saying the U.S. remains a place the company will focus most of its energies.
“We’re just starting to map it all out,” she said. “Considering we launched in April, it’s been a crazy six months.”
Lively is in the process of finalizing details on a possible pop-up in SoHo for next month following two temporary shop runs in Montauk, N.Y., and inside its headquarters.