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| Press Release | View all Collaterals of Fashion Playtes, Inc. |
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Fashion Playtes Secures Series A Financing
Financing earmarked for product line expansion, website development and growing customer base of online custom clothing company for tween girls |
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Salem, MA --
Fashion Playtes, a revolutionary online custom clothing company where tween girls design clothing they can actually wear, announced today that it has closed a $1.5 million Series A financing led by New Atlantic Ventures and LaunchCapital. Several angel investors also participated in the round. The funding will allow Fashion Playtes to expand its product line and customization options, further develop the website community and grow its customer base. In conjunction with the investment, Scott Johnson of NAV and Bill McCullen of LaunchCapital have joined the company’s board of directors. “We are thrilled to partner with some of the savviest new media investors on the East Coast,” said Sarah McIlroy, Founder and CEO of Fashion Playtes. “We have now secured the capital and expertise we need to launch and ramp our business.” Fashion Playtes gives girls the opportunity to express their creativity in the design process on the web, and then to actually purchase and wear the clothes they have so much fun designing. Fashion Playtes aims to build a community around creativity in fashion, providing a chance for collaboration between family and friends, eventually incorporating game elements as well. “As a young girl I designed most of my clothing and was fortunate to have a very talented mother who could sew. She made me beautiful custom outfits. I recall the pride and satisfaction of creating something that was exclusively mine. My 7 year old daughter is now designing clothes and I feel there is an opportunity to bring this concept to a broad market.” said Ms. McIlroy. The company currently has several partnerships in development to reach online tween girls. "Fashion Playtes’ mass customization strategy brings the power of social networks, multiplayer games, and modern custom manufacturing to the $11B+ tween apparel market,” said Mr. Johnson. “By enabling mass customization, Fashion Playtes will change how girls purchase clothing.” “Fashion Playtes provides an accessible opportunity for every girl who dreams of being a designer,” noted Mr. McCullen. “Attractive price-points and a vibrant community aspect will keep girls coming back.” The company is currently in closed beta, and plans to be open to the public in the fall. Anyone who would like to participate in the closed beta can visit www.fashionplaytes.com and request an invitation. For more information, please visit www.fashionplaytes.com . About Fashion Playtes, Inc.: Fashion Playtes ( www.fashionplaytes.com ) is an online custom clothing company dedicated to delivering both a fun and unique design experience and top quality garments to girls age 6-12. We offer girls the tools and a platform to create and design garments and accessories that can actually be produced to wear. The product line currently features t-shirts, dresses, skirts, jackets and accessories and will continue to expand in the coming months. Back to Fashion Playtes About NAV: New Atlantic Ventures (NAV) is an early-stage information technology venture capital fund based in Northern Virginia and Cambridge, Massachusetts. NAV focuses on businesses in high-growth emerging mass markets. Within high-growth emerging mass markets, NAV focuses on four main sectors: wireless, new media, online services and breakthrough technologies. For more information about NAV, please visit www.navfund.com . About LaunchCapital: LaunchCapital addresses the capital needs of companies that are in the earliest stages of funding by providing a needed source of financing to companies that can quickly advance to the next level of development. LaunchCapital’s market-agnostic approach to investing enables them to quickly take advantage of emerging technologies and trends and best help their portfolio companies reach critical developmental, corporate and market milestones. For more information about LaunchCapital, please visit www.launch-capital.com . To see press release go to http://myprgenie.com/2310 Contact: Sheila Hruby, pr@fashionplaytes.com, 978-744-2378 |
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| Status: | Published |
| Release Date: | Aug 12, 2009 |
| File(s): | No File available |
| Logo: | fashionplaytes_logo_NEWoct2009.jpg |
| Category: | Fashion, Entertainment, Art, Multimedia & Internet |
| Word Count: | 626 |
| About Fashion Playtes, Inc. | |
| Fashion Playtes is a revolutionary online custom clothing company where tween girls design clothing they can actually wear. | |
| Website: | www.fashionplaytes.com |
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