FashionStake, an online source for up-and-coming designers, has acquired the e-tailer Moxsie for an undisclosed sum.
Terms of the deal were not revealed.
Launched last fall by Harvard Business School classmates Daniel Gulati and Vivian Weng, FashionStake is based in New York. With the acquisition of Moxsie, FashionStake aims to reach a broader audience, especially shoppers between the ages of 18 and 29.
Founded in 2008 in Palo Alto, Calif., Moxsie has partnerships with more than 200 fashion labels, offering charitable donations through every purchase and setting up Buyerchat, a forum that assists more than 170,000 Twitter followers with their buying decisions.
Gulati said Friday there will be “no change in the Web sites to begin with. Moxsie will continue to serve its young and wired 18- to 29-year-old customer base, who are based primarily in the U.S. The FashionStake property will continue as a global marketplace for independent fashion. There may be crossover opportunities in the future, but this is not in our immediate plan.”