December 1, 2014
Men’s Style Lab, Inc., an online concierge clothing service that provides style for everyday guys, today announced the close of a $1.1 million angel funding round. It’s a follow-on funding to a $750,000 round raised earlier this summer: what a way to kick off the first week back from Thanksgiving.
The funding round was led by Jeff Rusinow, Men’s Style Lab Chairman, alongside retail veteran Rick Leto, former CEO of Mervyn’s and Executive Vice President of Kohl’s and Macy’s. Men’s Style Lab also announced that Susan Healy, former CFO of Lands’ End, has become an advisor.
Specifically, the money will be used to expand the Men’s Style Lab executive team, further build out the company infrastructure, and expand their product offerings. In early 2015 the company is expecting to move into larger warehouse facilities as well.
“I started Men’s Style Lab to provide a concierge service that caters to the average guy’s budget,” says Men’s Style Lab founder and CEO Derian Baugh. “Until now, the advantages of having a personal stylist have been exclusive to those with a sizeable income. But we believe you can look great without paying luxury prices.”
The platform was founded in 2013, and since then they have been able to help men in the mid-tier market upgrade their style with personally selected outfits delivered straight to their doors. Through an easy, two-step process customers build a profile and are paired with a personal Style Advisor who creates the style boxes. When the box arrives, customers pay for what they want to keep and then return the rest.
“The middle menswear space is ten times larger than the luxury space, where notable competitors currently compete. We know our market and we’re driven to create distinction in our space and provide a great customer experience with our guys,” says Baugh.
With the launch of its new website, Men’s Style Lab is simplifying their ordering process with a visually compelling style survey. Customers will be able to self-select their desired style, request specific items they’d like to receive, set their budget, and place their order.
“It’s no secret that guys hate to shop, so we’ve made every effort not only to make it easy to buy clothes, but also to enjoy the experience along the way,” says Baugh.
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