The Top 500 apparel chain plans to expand its reserve online, pick up in store program, as well as its presence in China.
Luxury deal site Bloomspot gains $9 million in new funding
The site also is adding discount offers for consumers in Boston and Washington.
BloomSpot Inc., the operator of flash-sale site Bloomspot.com, has received $9 million in new funding.
The site, which tries to appeal to older, more affluent buyers with luxury services, began offering deals in January. The site serves consumers in New York, San Francisco and Los Angeles and is rolling out offers to Boston and Washington. Further expansion plans include Chicago, Dallas and Houston.
Menlo Ventures led the recent round of financing. True Ventures and Harrison Metal, which participated in BloomSpot’s original financing of $2 million in 2009, also took part. “We believe that exclusive offers for a combination of local getaways and indulgence-oriented local experiences create an ideal offering for the affluent consumer seeking a leisure lifestyle,” says Pravin Vazirani, managing director at Menlo Ventures.
While Bloomspot.com follows the design of other deal sites in making limited-time and limited-quantity offers available at a discount, the company says the offers are less about saving money and more about creating an incentive to try out the advertiser’s service. BloomSpot says 68% of its audience is 30 and older, and that its ideal customer is older and more affluent than the average deal seeker. Advertisers include high-end restaurants, spas and hotels.
“It’s not the average discount-seeking customer, but rather those interested in trying a new luxurious experience with a small incentive,” says a spokeswoman for Le Cirque restaurant, a Bloomspot client.
BloomSpot was co-founded by Jasper Malcolmson and Ashish Baldua, both veterans of Yahoo Inc.