UNTUCKIT RAISES $30 MILLION IN FUNDING
Direct-to-consumer apparel brand UNTUCKit has announced that venture capital firm Kleiner Perkins has invested $30 million into the business. The company will use this funding to accelerate growth by opening 15 new stores, expanding its women’s line and launching children’s apparel.
UNTUCKit introduced its signature product in 2012 — a unique style of men’s shirts designed specifically to be worn untucked. The company has since expanded to offer a full menswear line, along with a new women’s collection that launched in spring 2017.
“We started the company with a vision to design clothing that works for the way people live today — first with our hallmark untucked shirt but then with an entire range of men and women’s clothing,” said co-founders Chris Riccobono and Aaron Sanandres in a joint statement. “We are excited to be working with Kleiner Perkins to capitalize on our current success and grow the business.”
“There is a renaissance happening in retail that favors brands who can directly connect with and understand their consumers,” added Mood Rowghani, General Partner at Kleiner Perkins. “UNTUCKit demonstrates a special synergy between online and offline that touches consumers in both their physical and digital worlds. This has profound benefits to merchandising, design, marketing, and customer happiness.”
UNTUCKit currently operates eight stores nationwide in New York, Chicago, Los Angeles, San Francisco, Austin, Dallas, King of Prussia mall in Pennsylvania and St. Louis.
