The Modist wins backing from Vaultier7
The e-tailer, headquartered in Dubai with offices in London, said it will use to investment to develop new brand partnerships. It currently stocks over 125 global brands, bringing modest clothing to shoppers in 65 countries.
The company behind the investment is Vaultier7, a new female-led specialist fund dedicated to partnering with brands in the Beauty, Personal Care, Health & Wellness and Lifestyle segments. This is one of the first investments by the company, which bought a stake in sneaker brand Axel Arigato for $7.5 million in January.
A spokesperson for Vaultier7 said: “The Modist has already made a mark in the industry with its positive and forward- thinking message and their powerful consumer-centric proposition curating ecommerce product with authentic content has stood out for us from day one. We believe the ‘Modist’ movement is only just beginning”.
Launched in 2017, The Modist curates e-commerce product with content to build a community of women of all ages and sizes who, for reasons both cultural and personal, want a modest look that doesn’t forgo style.
It counts with a management team of Net-A-Porter veterans, including former global sales and marketing director Lisa Bridgett, who is chief operating officer at The Modist.
The funding follows the launch of the brand’s first private label Layeur earlier this year.
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