The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Apparel and home accessories retailer Urban Outfitters is developing a wedding merchandise brand that it plans to launch in early 2011. The brand will offer heirloom wedding gowns, bridesmaid and special occasion dresses, invitations, and decorations.
Apparel and home accessories retailer Urban Outfitters Inc. announced plans to launch a new brand offering wedding merchandise next February. The brand, whose name hasn’t been disclosed, will offer wedding gowns, bridesmaid and special occasion dresses as well as invitations, décor and intimate apparel.
“We see our company as a group of niche brands,” CEO Greg Senk told analysts on the company’s recent earnings call. “We envision the company will be comprised of a minimum of six significant brands over the next 10 years.”
The wedding brand, which targets the $60 billion bridal industry, will join the company’s Urban Outfitters, Free People, Anthropologie, Terrain and Leifsdottir offerings first through a web site and then through a store, Senk says.
“We also expect to provide a community for brides before, during and after the wedding,” says Senk. On average, a bride spends about $6,500 on wedding clothes and accessories, according to the company.
2009 online sales grew 18.8% to $323.7 million from $272.5 million in 2008 for Urban Outfitters, No. 57 in the Internet Retailer Top 500 Guide.
Two weeks ago, Urban Outfitters launched a web store for its upscale Leifsdottir brand, which was previously a wholesale apparel line.