Fashion, e-commerce, & adventure vehicles
Your weekly download of the major happenings in the world of eCommerce and Digital Marketing - in one quick bite.
From fashionable baby gear to celebrity lingerie, shopping on Instagram to full-suite e-commerce set-ups (that won’t cost thousands), let’s explore how five brands are kicking goals in business this week.
Rihanna gets more intimate with Savage X Fenty
Rihanna's luxury ready-to-wear line, Fenty, has been put on hiatus until further notice while her extremely popular lingerie line gets further funding. Savage X Fenty is set to receive $115 million in funding from L Catterton to help expand their current retail presence. Rihanna is said to have an estimated $85 million state in the company.
The lingerie brand saw revenue growth of more than 200% last year and an increase of more than 150% in 'VIP members', customers of the subscription-based business model. It is now estimated that Savage X Fenty is now worth $1 billion.
$43 million to expand e-commerce platform, Fabric
Fabric, a start-up that helps businesses optimize their e-commerce experiences, received $43 million in Series A funding. With the spike of e-commerce since the pandemic, retailers and makers need more quick-to-industry innovations like Fabric. Fabric is focused on expansion of its product offerings, accelerating retailer onboarding and workflow, continuing to meet the ever-changing needs of retailers and eliminating the need for replatforming.
Fabric is the only headless commerce platform that combines the ease of drag-and-drop configuration with the power to create rich modern customer experiences, without the need for a large dev team. ‘Gorgeous storefronts without back-end sacrifices’ are Fabric’s ethos.
Scroll then shop, on Instagram & Facebook, with Shop Pay
Shopify and Facebook have joined forces to allow users to check-out while in the social media apps. This is the first time Shop Pay will be available outside of Shopify, signaling a new chapter for the way we make purchases online.
In 2020, Shop Pay helped fulfill 137 million orders – facilitating nearly $20 billion in cumulative GMV since its 2017 launch. Shopify also partnered with TikTok to allow brands to publish ads on the platform. Shop Pay’s ‘tap, don’t type’ approach makes it easier than ever to purchase items online.
Rivian’s upcoming $50 billion+ IPO
Rivian Automotive plans to go public this year, with an expected value of $50 billion. Tesla’s biggest competitor, Rivian has already raised $8 billion from investors who believe the brand’s battery-electric pickup and SUV to be embraced in the U.S.
Set to be one of the biggest IPOs of the year, all eyes are on this upcoming electric vehicle listing. Rivian’s production HQ is in Illinois, where the company plans to build the 100,000 custom EV delivery vans for Amazon by 2030.
Maisonette’s $50 million to raise their brand
From its birth, New York startup, Maisonette, envisioned becoming a one-stop-shop for families with young children. The co-founders met while at Vogue Magazine, so the entire Maisonette collection is tinged with style. Think boutique kid’s clothes, décor, toys, homewares, gear, and gifts.
The brand doubled their customers and tripling sales in 2020, with DIY and STEM toys seeing a 1400% rise (through the pandemic). The 75-person company looks to a bright future, having now totaled funding of $50 million. The children’s apparel industry currently stands at $34 billion. Maisonette plans to use the funding to grow into international markets.
Maisonette and these other four brands serve as inspiration – that success is possible, no matter what industry we exist in.
CareerTu Research is a knowledge-sharing platform focused on empowering brands by providing valuable eCommerce and Digital Marketing news, insights, and trends. Follow along and subscribe to our weekly ‘Quick Bites’ where we feature innovative brand disruptors making waves in the world of eCommerce.