Carmen Busquets invests further in Moda Operandi
Online retail investor Carmen Busquets has increased her investment in Moda Operandi, the online luxury fashion retailer which gives consumers access to designersÂ’ full collections straight from the catwalk.
Moda Operandi announced earlier this month that it completed a $36 million round of financing led by RRE Ventures and with the participation previous investors Carmen Busquets, New Enterprise Associates, New Atlantic Ventures, and CondeNast. The investment round also included new strategic investors such as LVMH and IMG.
The company said it will use the new financing to support growth as it continues to extend its range of brand partners. It will also fund the launch of in-season buying in the autumn that will feature a highly curated selection of products across all categories.
Commenting on her investment Busquets said: "The Moda Operandi model of providing consumers with the opportunity to buy collections ahead of their official launch reminds me of how I built my first business in the luxury sector. When I started out in business the kind of technology we are seeing today was not available, but the growth of online has created opportunities for small niche brand to deliver luxury smarter, faster right across the globe.
"This is an exciting niche and very different to what other businesses in the luxury space are currently offering. My belief is that Moda Operandi has great potential to grow into a global business and I am very pleased to support the Company in the next stage of its development."
Áslaug Magnúsdóttir, co-founder and CEO of Moda Operandi, added: "Moda Operandi’s exceptional growth in the first year of business demonstrates the booming global demand for great design and the strong response we are witnessing from women worldwide to shop directly from the runway. We are pleased to be supported by such visionary investors as Carmen Busquets, one of the leading investors in online luxury retail."
Busquets is a founding investor and board director of online luxury fashion retailer Net-A-Porter.com. She held a 30% share in Net-a-Porter before exercising her controlling rights when the company was sold to Richemont Group in 2010.
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