NEW YORK--(BUSINESS WIRE)--First paragraph, second sentence of release dated December 14, 2021 should read: The round was led by Marcy Venture Partners with participation from previous investors CityRock and Gaingels, among others.
The updated release reads:
ANDIE ANNOUNCES $18.5 MILLION SERIES B ROUND
The fast-growing swimwear brand will use funding to expand its offerings and global reach
Andie, the inclusive brand created for every woman, every activity and every body, today announced an $18.5 million Series B funding. The round was led by Marcy Venture Partners with participation from previous investors CityRock and Gaingels, among others.
Celebrated for its meticulous fit process backed by 1.5 million data points from hundreds of thousands of women, Andie is the go-to destination for women looking for well-fitting swimwear and intimates for all of life’s occasions. Following an explosive year — including its groundbreaking "TOGETHER” campaign with Demi Moore and first-ever celebrity capsule collection with actor Claire Holt — the DTC swimwear brand has achieved breakout scale since its launch in 2017, including 100% year-over-year growth from 2020 to 2021.
Using customer feedback from the success of its entry into the Intimates category earlier this year, Andie continues to double down on significant platform expansion with the launch of its first-ever loungewear category. Sourced and produced domestically in the U.S., the inaugural Andie Lounge collection is made from Eco Bamboo, a sustainable fabric woven from 50% bamboo and 50% recycled polyester for a buttery soft fabric that mimics the Intimates line. Priced between $45-$65, the line features four styles including The Classic Tee, The Scoop Tank, The Wide Leg Pant and The Short, available in classic colors such as Black, Blush, Fern, Midnight and White in sizes 0-26 (XS-3XL). Andie’s loungewear collection is the natural extension of its core swim and intimate offerings.
In November, Andie opened its first retail pop-up in West Palm Beach, Florida as part of the company’s evolving retail strategy to bridge the online and offline world, allowing shoppers to experience Andie’s welcoming community in real life. With the new injection of capital, the company will continue to expand its omnichannel distribution as well as its international presence, as demonstrated by its rocketing sales in Australia increasing 500% in the past year.
“We’re committed to continuing to be a source of comfort for women as we enter new categories,” said Melanie Travis, Founder and CEO of Andie. “This has been an extremely high growth year for the brand and this funding will fuel our next stage of growth as we continue to bridge the gap between swim, intimates and loungewear, as well as hone our omnichannel retail strategy, meeting our customers wherever they are.”
“We resonate with Andie’s brand values of inclusivity, empowerment and sustainability,” said Larry Marcus, Co-Founder and Managing Director of Marcy Venture Partners. “We are happy to be backing Melanie and team as they continue their growth and innovation of their highly customer centric brand.”
Looking ahead, Andie plans on expanding its executive team and continuing to build on the momentum of its product offerings to meet the evolving needs of its customers.
Andie is a brand created for every woman, every activity and every body. We design well-fitting swimwear and intimates for the modern woman and for all of life’s occasions, featuring classic, stylish styles sizes 0-26 that women can wear time and time again. Starting with swimwear, Andie takes the worry out of swimsuit shopping so you can feel confident and stay authentic to who you are. Harnessing an industry-first Fit Quiz, one-to-one virtual fittings with our Fit Experts and educational fit guides, we take the vulnerability and difficulty out of buying swimwear to help you find your suit, tailored just for you. The all-new, eco-friendly Andie Intimates collection was made with years of fit and design feedback – for underwear and bralettes so comfortable, you'll forget you're wearing anything at all. We're a woman-founded business striving to help everyone find their perfect Andie fit. For more information, please visit www.andieswim.com.