Shoes of Prey secures $US15.5m to fund US expansion and move into handbags

Jodie Fox providing customers with a consultation in one of the Nordstrom design studios. Photo: supplied.

Shoes of Prey has secured $US15.5 million in Series B capital raising to fund its growing presence in the US market.

The funding round, led by BlueSky Venture Capital with Greycroft, Nordstrom and Khosla Ventures, which led Shoes of Prey’s Series A-2 round in 2014, brings the company’s total combined funding to $US24.6 million.

The investment follows a roll out of new physical design studios in six Nordstrom department stores across the US. Nordstrom is now an equity partner in the business.

The LA-based Australian startup will also use the money to increase production capacity in the company’s Chinese factory to cater to increased consumer demand in the US and globally.

Fox is also looking to venture into new products, such as women’s handbags.

Nordstrom executive vice president Scott Meden said the investment aligned with the retailer’s strategic vision and long-term goals.

“With personalisation becoming more important to how the customer views good service, it’s important for us to find opportunities to stay increasingly relevant,” he said.

Since announcing the partnership with Nordstrom department stores in November 2014 Shoes of Prey has also relocated its headquarters from Sydney to Los Angeles. It continues to have an Australian department store presence with a concession store in David Jones in the Sydney CBD.

Now read:

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