"Representative" retailer Dia & Co raises $70 million in new funding
today Nov 17, 2018
Plus-size retailer Dia & Co has raised $40 million in Series C funding, which joins the $30 million the company quietly raised in 2017.
The funding, led by Union Square Ventures (USV) and the company's existing investor Sequoia Capital, brings the retailer's total funding up to $95 million since its 2015 founding.
A proponent of what the company calls "representative retail," Dia & Co boasts over 4 million fans searching for fashionable clothes in larger sizes. According to the retailer's research, demand for size-inclusive fashion is worth $100 billion, and the 67 percent of American women who fit into the category are eager to spend on quality apparel.
According to nation-wide polls, the average American woman falls between a dress size 14 and 16. While typically "straight-sized" retailers are responding – with retailers like Asos, Kohl's and Nasty Gal releasing plus and extended-sized lines, choices for high fashion and luxury size-inclusive collections are still limited.
In addition to their funding announcement, Dia & Co. also reported that they have named Francis Nzeuton as the company's new chief financial officer. In his new role, he will manage the company's new growth and expansion. Previously, Nzeuton served as the head of finance in Amazon's U.S. Consumables department.
The new funding comes after several new introductions at the retailer, including Dia & Co activewear, as well as strategic growth partnerships with theCURVYcon, the Council of Fashion Designers of America, and Venus Williams.
Copyright © 2019 FashionNetwork.com All rights reserved.