Velasca, a Milan, Italy-based direct-to-consumer, Made in Italy luxury shoes brand, raised €4.5m in its third equity funding.
The round was led by P101 and Milano Investment Partners.
The company intends to use the funds to expand:
– its business reach at national and international level, with 10 new stores within 2020, starting with Paris, opened earlier in September, London and New York, to be opened within January 2020, and 20 new stores within 2022 (16 stores will be opened abroad),
– its team, which today counts 35 people, to reach 120 members within 2022, and
– its optimization efforts of the omnichannel activities, processes, and digital services.
Co-founded by Enrico Casati and Jacopo Sebastio in 2013, Velasca is a Made in Italy, high end shoes brand which operates both online and offline channels.
The company, which had raised €2.5m in July 2018 and €720k in November 2016, forecasts to close 2019 with a turover of approx. €10m with a 90% YOY growth.
A 30% stake of the business comes from abroad, with a pre-eminent presence in France, UK and Northern Europe.