Funding in fashion startups has risen from under $25 million in 2010 to over $980 million in 2016.
From men’s underwear to heated socks and children’s smart shoes, the new wave of startup fashion brands is coming to your closet.
Many of these startups aspire to create tomorrow’s lifestyle brands using new materials, new tech, and big data.
The use of tech and data covers not only the creation but also the supply chains, inventory, better management, and product decisions.
As these fashion startups are “born” in modern times, most of them – if not all – are tech-infused.
All fashion startups in our top 10 use at least one tech-based technology. Some others employ IBM’s artificial intelligence to predict customers’ behaviors.
Others use 3d printing and graphene-based fabrics to create the materials of tomorrow.
Like it or not, the fashion industry is going to be reshaped by the new wave of fashion makers in their quest to create the fashion brands of tomorrow.
1. Warby Parker
Warby Parker is an online retailer of discount prescription glasses. The startup lets users get glasses frames via the mail, which they can try on. Funding to date $215.9 million.
2. Bonbos
Bonobos is a men’s clothing brand sold just through online verticals. Custom-made shirts, trousers, suits, and other apparel. Funding, $127.7 million to date.
3. Stance
Stance is a simple “sock” startup that slowly morphed into one a cultural icon thanks to intelligent, targeted digital marketing. Funding, $124.6 million to date.
4. Indochino
Indochino is a provider of custom menswear, online based. Indochino lets you customize and order a high-class suit – made to order – in as little as 10 minutes. Funding, $49.5 million to date.
5. Alex and Ani
Alex and Ani is an affordable fashion jewelry brand, popular for their “Positive Energy” bangles made from recycled materials and sold through 45 stand-alone stores and over 1.000 wholesale outlets across the U.S. Funding to date, $27.4 million.
6. Frank & Oak
Frank & Oak is a menswear brand that designs, manufactures, and sells premium clothing and accessories. Funding to date $20 million.
7. Zachary Prell
Zachary Prell offers shirts, coats, and outerwear for sports. Also, leather jackets and swimwear. Funding to date $20 million.
8. Warby Parker
Reformation is a clothing company designing limited-edition collections sold in its own boutiques and online store. Funding to date $12 million.
9. Ringly
Ringly offers smart embedded hardware and software in its line of jewelry for women. Funding to date $6.11 million.
10. Chubbies Shorts
Chubbies Shorts offers comfortable, flexible shorts. Funding to date, $5.13 million.
Conclusion
As the graphic at the beginning of the article points out, investor-backed startup fashion brands are engaging all parts of your wardrobe.
The fashion industry is changing, but you don’t have to trust us.
Check those investments once again at the investments, and you’ll get the idea. Altogether, the top 10 fashion brands – mentioned above – have raised a combined $650 million in almost 35 deals.
What’s next? Funding in the “See Now, Buy Now” infrastructures, AI-powered e-commerce platforms, smart labels, and the internet of clothes.
