LONDON – Balderton Capital, the London-based venture capital firm, is the latest investor to throw its weight behind online fashion retailing.
The firm has taken a $9 million stake in my-wardrobe.com, a London-based men’s and women’s online fashion retailer that sees its niche as “accessible luxury.”
The site specializes in designer labels and diffusion lines such as Alice by Temperley, D&G, McQ, and Vivienne Westwood Anglomania. Balderton joins existing private investors, including the retailer’s founder and chief executive officer Sarah Curran.
Curran said in an interview she plans to use part of the investment to add premium labels to the online store. Notte by Marchesa, Halston Heritage, and Moschino Love will all join the site for fall 2010. She also plans to improve the customer experience and expand into international markets.
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Balderton is no stranger to e-commerce: Its investments include Yoox, the online fashion retailer based in Italy; Lovefilm.com, the online DVD rental company; and the lingerie retailer Figleaves.com, which was sold to mail order firm N Brown for 11.5 million pounds, or $17.3 million last month.