Randa has signed on as the lead investor in Stantt, a made-to-measure men’s wear brand. Randa was joined by New England Development, CompanyFirst, Sapna Shah of Red Giraffe Advisors, and entrepreneur John DeWees. The amount of the Series A financing was not disclosed but is said to have been a multi-million dollar investment.
The New York-based Stantt was cofounded in 2013 by Matt Hornbuckle and Kirk Keel and uses proprietary DataFit Technology, which is comprised of 99 sizes and an algorithm that requires only three measurements to create a custom fit. The brand offers wovens, knits and performance cloth in a variety of regular and big and tall sizes. All garments are made-to-order and delivered in seven days.
The financing round was led by Randa Digital Labs and will be used by Stantt to “increase marketing partnerships and support to more than 300 retail partners, enhance brand touch-points across all channels, drive expansion into new product categories and enable the hiring of key personnel,” the company said.
Heath Golden, president of Randa Digital Labs, said his company “appreciated the value of Stantt’s business model from the beginning. We are confident that Matt and Kirk will leverage these funds to take the company to the next level of success.”
Scott Baker, head of family office investments for New England Development, said Stantt’s “combination of quality, custom-fit technology, and speed of delivery for a made-to-order product is revolutionary in the industry, on-trend, and truly differentiates the company within the men’s wear space.”
Keel said the investors will “bring so much more to the table than just funding. Their experience will help us accelerate growth in 2019 and beyond.”
Last year, Randa tried unsuccessfully to purchase the Perry Ellis brand. After a bitter battle, the brand was acquired and taken private by its former chief executive officer George Feldenkreis.