Tamara Mellon, the renowned luxury footwear brand for women, has recently made headlines by securing an impressive $50 million in Series C funding. This funding, led by the esteemed investment firm Centricus based in London, brings the total capital raised by Tamara Mellon to an impressive $87 million. Notable existing investors like NEA and Quadrille Capital also participated in this funding round, showcasing strong support for the brand’s growth and expansion.
This significant milestone for Tamara Mellon will pave the way for manufacturing innovation, expansion of retail operations, and continued investments in building the brand. With plans to increase its team size from 40 to 60 employees by the end of 2019, Tamara Mellon is set on solidifying its presence in the market and enhancing its operations across various fronts.
The brand’s growth trajectory has been nothing short of remarkable, with a remarkable 136% increase in sales in 2018. Impressively, 36% of these sales stemmed from repeat customers, indicating a high level of satisfaction and loyalty among consumers. Achieving a noteworthy milestone of hitting its first $1 million sales day in October 2018 further solidifies Tamara Mellon’s position as a sought-after luxury footwear brand.
Embracing digital innovation has been a key strategy for Tamara Mellon, with mobile traffic accounting for over 80% of its online interactions. By becoming one of the first luxury brands to integrate with Apple Business Chat, the brand has elevated its customer engagement and service levels, setting a new benchmark for industry standards in the digital space.
Centricus, the leading investor in the Series C funding round, expressed enthusiasm about collaborating with Tamara Mellon during this pivotal phase of its growth journey. With a proven track record in investing in luxury brands, Centricus aims to provide strategic guidance to Tamara Mellon in refining its brand strategy and tapping into new growth opportunities.
Tamara Mellon’s foray into physical retail with its first store in Los Angeles in 2018 marks a significant step towards broader growth and expansion. Diversifying its product offerings to include handbags and sneakers has further solidified the brand’s appeal to a wider audience, showcasing its adaptability and responsiveness to evolving consumer preferences.
Through strategic investments, a relentless focus on innovation, and a strong brand ethos, Tamara Mellon is well-positioned to continue its upward trajectory in the fiercely competitive landscape of luxury fashion.
To explore more about Tamara Mellon and its luxurious offerings, visit their official website here. Additionally, to stay updated on the latest developments in the luxury fashion sector, check out relevant articles on Vogue here.
