L Catterton is seeing more opportunity in the plus-size market.
The investment giant, which bills itself as the world’s largest fund focused on the consumer sector, has taken a stake in BloomChic, a digital-first fashion line for women wearing sizes 10 to 30.
The size of the investment was not disclosed, but the connection is intended to position BloomChic, founded in 2021, for the next stage of its growth.
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Bill Hu, founder and chief executive officer of BloomChic, said, “L Catterton has an impressive track record of helping companies to build iconic brands, broaden product suites, enter new geographic markets and attract talent.”
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BloomChic has offices across Greater China and California and is targeting shoppers in the U.S., Canada, Australia and Europe.
L Catterton, which has investments in Birkenstock, Savage x Fenty and many others, can lend its expertise in consumer insights and operations to help boost the brand, which is part of the broader trend toward body positivity.
Plus-size fashion has long been seen as an opportunity in fashion, but one that’s proven to be hard to tap into.
Scott Chen, a managing partner at L Catterton, said, “BloomChic’s product quality and range sets it apart from others in the plus-size womenswear market. Most brands that seek to tap this market simply offer enlarged versions of their existing offerings, with little consideration for body shapes, fit and comfort. Their products also do not cater for as wide a spectrum of customers as BloomChic’s.
“BloomChic’s community-building initiatives — especially the in-person events it organizes for customers to provide feedback — have also demonstrated that it believes the plus-size voice should be heard and valued,” he said. “This has resonated with the community as society increasingly embraces female empowerment, body positivity and social inclusion.”
The opportunity is significant.
L Catterton noted that about two-thirds of women in the U.S. wear size 14 and above, but that less than half of the apparel market is made up of larger looks, with only about 2 percent of women’s apparel stores focused on the category.
Globally, the plus-size women’s market was pegged at $186 billion in 2020, with the U.S. seen as about 45 percent of that and on track to grow at a compound annual growth rate of 3 to 5 percent, twice the pace of the country’s overall women’s apparel market.
BloomChic has what the company described as a “data-driven product development process” that finds trending colors, patterns and fabrics while taking different body shapes into consideration.
New looks are tested in small batches.
“There is a very real need for women of all sizes to be and feel seen, uplifted by fashion,” said Freya Hu, BloomChic’s chief product officer. “It is our mission to fulfill this need. We are only at the start of our journey and are incredibly excited about what’s to come.”