NEW YORK--(BUSINESS WIRE)--Studs, the leading next-gen ear piercing experience and earrings brand, today announced a $20 million Series B funding round, bringing its total funding to date to $30 million. Spark Capital led the round with participation from existing investors, including Thrive Capital, First Round Capital and Lerer Hippeau. This financing follows a previously unannounced Series A round led by Thrive Capital.
Studs will use this new injection of capital to fuel the national expansion of its physical retail locations, Studs Studios, and the growth of its e-commerce as the brand continues to build a new consumer category of Earscaping®. Despite closing its retail locations during the pandemic, the brand grew its e-commerce channel by 30x and opened four new physical studio locations in Los Angeles, Austin, and Boston this year with three more locations on the Upper East Side, Austin and Miami to open by end of year.
“This strategic funding will help accelerate our growth so we can bring our industry-leading piercing experience to more markets across the U.S., while expanding our online offering to meet the needs of our growing customer base,” said Anna Harman, CEO & Co-founder of Studs. “Customers are celebrating self-expression and marking milestones with multiple ear piercings, and we’re excited to help them upgrade their Earscape® through a truly differentiated experience.”
While the retail industry has faced challenges rebounding, Studs has experienced a surge in piercing demand, and its stores are performing at pre-COVID-19 levels, with an average four-week wait for piercing appointments. Meanwhile, the brand’s earring drops continue to sell out quickly and fuel growth of the e-commerce business. The recent “Studs Loves New York” campaign was the most successful e-commerce launch to date and included the launch of the brand’s mobile piercing experience, Studs on Wheels.
“Studs' authentic service, direct relationship with its customer and ethos of bold-self expression resonates with today’s audience in an unprecedented way,” said Kevin Thau, General Partner at Spark Capital. “With this new capital we’re excited to support Studs on their national takeover and their mission to reimagine this category for a new generation.”
“In just a short period of time, the Studs team has built a great brand and a trusted relationship with consumers,” said Nabil Mallick, General Partner at Thrive Capital. “We're confident it will be the defining company in its category and excited for this next phase of the business.”
To learn more about Studs, please visit www.studs.com.
Studs is on a mission to empower bold self-expression through Earscaping® with safe and healthy ear piercings and the best curated selection of earrings--online and in-store. Founded in 2019 by Anna Harman and Lisa Bubbers, Studs reimagines ear piercing by offering consultative and expert needle piercing services, combined with a wide assortment of accessibly priced, on-trend earrings, and an experiential retail environment for its primarily Gen Z and millennial customers. Studs currently has five retail locations across the U.S. in New York City, Los Angeles, Boston and Austin. To book an appointment at a local Studs Studio, visit www.studs.com.