Moda Operandi, a NYC-based online luxury retailer, completed a $165m growth funding round.
The round was co-led by Adrian Cheng (through his investment vehicles – C Ventures and K11 Investment), whose family businesses include Chow Tai Fook Jewellery, New World Development, Rosewood Hotel & Resorts and K11; and Apax Digital, with participation from existing investors New Enterprise Associates, LVMH and Fidelity, among others.
The company intends to use the funds to accelerate international growth with particular focus in key markets including Asia and the Middle East, increase development across several key business verticals, improve in mobile technology, advance in customization, personalization, grow marketing efforts and customer acquisition programs, develop the existing brand portfolio and expand new brand relationships.
Led by CEO Deborah Nicodemus, Moda Operandi is an online platform that allows people to preorder looks straight from the unedited runway collections of the world’s top designers months before they are available publicly. Moda Operandi’s Boutique offers an expertly curated selection of in-season items from both established and emerging designers.
Launched in February 2011, the company to date has raised over $132m in funding ahead of this round.