The funding round values the company at more than $1 billion. Sprinklr has raised $123.5 million to date.
The retailer, trying to attract more women, wants to sell more fashion-related items.
Sears Holdings Corp. yesterday announced plans to sell a number of affordable cosmetics brands typically found at drugstores on Sears.com and more than 100 of its bricks-and-mortar Sears stores. Sears is No. 8 in the Internet Retailer Top 500 Guide.
Those brands include L’Oreal, Maybelline and CoverGirl, which are more often sold in drugstores than in department stores like Sears.
The retailer hopes that selling brands not commonly associated with department stores will encourage cross-category shopping, says Gary Schettino, a Sears vice president who focuses on apparel. The retailer says that selling these new beauty products is a critical part of its strategy to build a portfolio of products in female categories associated with fashion.
“We are pleased to offer our customers a comprehensive assortment of the cosmetics, skin-care and nail-care brands not typically found in department stores," he says. "Our foray into beauty creates the perfect complement to our new approach to fashion at Sears. The introduction of affordable and well-known brands is another example of our continued commitment to offer our customers incredible value at a total style destination."
Sears says the launch comes after a test of the concept in 13 stores last year drove both consideration and traffic among shoppers.