Threads Styling closes 12 million US dollar funding round
Threads Styling, the chat-based luxury shopping platform, has closed a 12 million US dollar funding round to expand its e-commerce and live commerce channels.
The London-based company said the funding would enable it to continue its expansion on product offering to service clients at 360 degrees, while also amplifying its new, curated e-commerce website and dedicated live shopping events.
Threads Styling secured 12 million US dollars of venture capital from pre-existing investors, led by Highland Europe, which recently invested in luxury womenswear brand Me+Em, alongside C Ventures. There was also participation from BVYP and TriplePoint Capital. In addition, Threads Styling a crowdfunding campaign with Crowdcube later this month, aimed at its clients, allowing them to invest in the company.
Sophie Hill, founder and chief executive of Threads Styling, said in a statement: "The landscape of luxury is changing, our experience has proven that combining relatable inspiration with a convenient client first service has answered the needs of the new gen luxury shopper.
“This new round of investment will drive further expansion of our model through our new ecommerce platform and live shopping events on social media. We're incredibly grateful to our investors for their continued support and, given our community has been an important part of our growth over the years, we're excited to formally welcome the next generation of investors into the Threads family."
Threads Styling pushes forward with expansion into e-commerce and live commerce channels
Threads Styling founded in 2009 by Sophie Hill has become a go-to luxury shopping platform for Gen Z and young Millennials as it offers a shopping experience entirely over social media, such as Instagram, Snapchat and TikTok, and sells the luxury goods over chat platforms, including Whatsapp, iMessage and WeChat.
Following “continued strong growth” over the pandemic, Threads Styling is looking to use the investment to accelerate and build its product offering and diversify its social-first business model to expand and amplify how it caters to its client’s needs.
In February, Threads Styling launched a more traditional e-commerce website focusing on fine jewellery, offering rings, necklaces, bracelets and earrings from contemporary designers like Anita Ko, Kamyen, and Yuliya Magdych. The e-commerce, aimed at strengthening client engagement and accelerating growth across key markets, will also help Threads Styling target a broader audience. It sits alongside live shopping events, which includes regular weekly live sessions across luxury fashion, accessories, fine jewellery and watches.
Hill added at the time of launch: “Threads’ unique chat-based model has always ensured we stay close to our client's needs, inspiring and servicing our customers in ways that are most convenient for them.
“The launch of our new commerce platform and live shopping events marks an exciting moment in the evolution of our business model, amplifying the ways in which clients can engage with Threads, whenever and wherever suits them.”