Business
Direct-to-consumer lingerie brand Lively acquired for $85M
Lively, a lingerie business founded and led by former Victoria’s Secret executive Michelle Cordeiro Grant, has sold to intimate apparel brand Wacoal for $85 million.
The deal includes up to an additional $55 million in performance-based payouts.
Lively, headquartered in New York, had raised $15 million in venture capital funding, including a $6.5 million Series A investment from GGV Capital, NF Ventures and former Nautica CEO Harvey Sanders announced late last year. The Series valued the startup at $101 million, according to PitchBook.
The deal brings Wacoal’s parent company, Wacoal International Corporation, a team of highly-skilled e-commerce marketers, who’ve successfully managed to tap into the millennial customer sect.
Lively, founded in 2016, sells bras and intimates online and in two brick-and-mortar locations in Chicago and New York. It competes with a number of other direct-to-consumer lingerie and activewear upstarts, including ThirdLove, AdoreMe, TomboyX and Outdoor Voices .
“We built Lively to inspire women to live life passionately, purposefully, and confidently,” Grant wrote in a statement. “We invest in our community and customers to empower them to celebrate their individuality and enable them with products to look and feel their best. Wacoal’s core values have a beautiful synergy with Lively’s, enabling us to come together, not just to take market share, but to also create market share.”
-
Business6 days ago
Lordstown Motors’ ousted CEO settles with SEC for misleading investors
-
Business5 days ago
Apple sued, Microsoft’s AI ambitions and Nvidia’s surprises
-
Business4 days ago
TechCrunch Mobility: The wheels are starting to come off the Fisker EV bus
-
Entertainment4 days ago
Amazon Big Spring Sale 2024: Shop 350+ deals on Apple, robot vacuums, security cameras, more
-
Business3 days ago
Maju Kuruvilla is out as CEO of one-click checkout company Bolt
-
Entertainment3 days ago
Asus ROG Zephyrus G14 (2024): The MacBook Pro of gaming laptops
-
Entertainment5 days ago
Amazon’s Big Spring Sale 2024: Shop 340+ deals on Apple, robot vacuums, security cameras, more
-
Entertainment4 days ago
Amazon’s Big Spring Sale 2024: Shop 350+ deals on Apple, robot vacuums, security cameras, more