Frank and Oak, a Montréal, QC, Canada-based clothing and accessories retailer, raised $16m in funding.
The round was led by Caisse de dépôt et placement du Québec with participation from Goodwater Capital and Investissement Québec.
The company intends to use the funds to accelerate development of its digital experience and support its growth online in North America and other parts of the world, bolster technological projects, through the implementation of artificial intelligence in its Style Plan program of personalized recommendations and through the development of integrated omnichannel technologies.
Led by Ethan Song, Co-Founder and Chief Executive Officer, Frank And Oak combines style, design and technology to offer collections of clothing and accessories for men and women designed and suited to the lifestyles of its customers.
Present on the web and in 16 boutiques across Canada, the brand provides a personalized online experience to hundreds of thousands of members.
The company is also announcing the arrival of new team members including:
– Éric Simon, who has returned as Chief Financial Officer,
– Frédéric Boivin, who joined the organization as Vice-President of Merchandising,
– Brad Evans, who joined as National Sales Manager, and
– Joanne Nemeroff, who now serves on the Board of Directors of Frank And Oak.