(Filed Under wholesale Lingerie News). Online lingerie startup Adore Me expanded greatly in 2013, raising $8.5 million in financing and adding a significant amount of office space, warehouse space and new styles for the rapidly growing e-commerce venture according to an “annual report” it recently posted on its website.
Founded in late 2011 as an alternative to big-name lingerie retailers with too-high price points and were slow to adopt trends, Adore Me sells bra and panty sets for an average of $39.95, less than the cost of just a bra at many retailers.
To keep costs down and provide excellent customer service, Adore Me only sells its own brand and is committed to a hassle-free, online-only shopping experience, according to president Morgan Hermand-Waiche.
In addition to the $8.5 million in Series B fundraising, Adore Me reported a 357 percent jump in annual revenue and a 550 percent increase in shipments sent for 2013. It added nearly 3,000 square feet of office space, as well as 9,000 square feet of warehouse space.
The brand also reported growth in the mobile and social media front, launching an app in November, tripling its server capacity and garnering approximately 756 new Facebook followers per day in 2013.
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