Monday, June 30, 2014

Chloe + Isabel Entrepreneurial Opportunity Funded

Posted by Beni Schaub at 3:39 AM
New York-based social retail jewelry company Chloe + Isabel announced that it has closed a $15 million Series C equity round to continue to provide an entrepreneurship opportunity through its social commerce platform. Led by SoftBank Capital, the round also included participation from existing investors General Catalyst Partners, First Round Capital, Forerunner Ventures, and Floodgate Fund.

Chloe + Isabel’s socially-integrated e-commerce platform equips its sellers, known as merchandisers, with a customizable e-commerce “storefront.”  With over 4,500 merchandisers, Chloe + Isabel is creating a movement among entrepreneurially-minded women across the U.S.  The company’s proprietary technology provides its merchandisers with online and mobile tools to create, curate and power their own online boutiques, including sales and merchandising training, online marketing support, and the ability to manage their businesses real-time. 

The company launched the business with its flagship jewelry line – designed and developed in-house at its headquarters in NYC – and successfully launched its first fragrance, Jardins du Midi, this past April. The recent funding will be used to fuel the company’s growth and increase Chloe + Isabel’s community of micro-entrepreneurs both domestically and internationally, as well as to further enhance product categories. 

“Chloe + Isabel’s innovative scalable tools and training offer a true social-selling experience and provide an entrepreneurial opportunity for today’s woman,” said Scarlett O'Sullivan, Partner at SoftBank Capital. “We were drawn to the merchandisers’ stories and the way in which Chloe + Isabel’s disruptive selling platform, customized marketplaces and high-quality products are impacting merchandisers’ lives and allowing them to attain whichever goals they set for themselves.  We see a vast opportunity to expand the brand and bring this unique social selling approach globally, and are excited to help the company navigate its entry into new markets overseas.”   

Chloe + Isabel’s community of merchandisers, 75% of whom are under the age of thirty-five, is the lifeblood of the organization.  Merchandisers join the opportunity to achieve personal goals ranging from earning supplemental income, to building their resume to land in retail jobs, to developing sales and leadership skills.  Merchandisers can earn $50 to $400 per hour, with commissions ranging from 25% to 40%.

“We’re building a global community and platform to arm our merchandisers with the best technology tools, retail training and education to maximize their growth and success as today’s entrepreneurs,” said Chantel Waterbury, Chloe + Isabel Founder and CEO.  “SoftBank has tremendous global experience building high-growth businesses, and we look forward to partnering with them to extend our brand and provide the Chloe + Isabel opportunity to women everywhere.”

You may also have interest in learn about the Chloe + Isabel Fragrance that we wrote about recently here on the Apparel Search blog.

ABOUT CHLOE + ISABEL
Chloe + Isabel is a New York-based, innovative social commerce jewelry company that empowers and connects women through their own social selling experience.  Launched in 2011, the company has reinvented the direct sales model through technological innovation and social media integration geared to empowering the female entrepreneurs of today. For more information, visit http://www.chloeandisabel.com.

ABOUT SOFTBANK CAPITAL

SoftBank Capital makes early and growth stage investments in companies that connect people, devices and the world. SoftBank Capital invests in category leaders in consumer and enterprise mobile, online advertising, ecommerce, social media and cloud computing. We have been making investments since 1995, with recent exits including Bluefin Labs, Buddy Media, Hyperpublic, Huffington Post, OMGPOP, Pivot and ZipList. To learn more, visit http://www.softbank.com.

Learn more about jewelry companies in the jewelry guide section here on Apparel Search.  Yes, in addition to clothing and beauty products, we also have a guide for people interested in learning more about necklaces, bracelets, earrings, etc.

Thank you for taking the time to read our jewelry industry blog post. We hope that you have found this news to be informative. If you have comments or questions, please add your thoughts in the discussion area below.

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