The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The retailer will sell out-of-season apparel on the site.
Fashion aficionados who can’t travel to one of 13 Barneys New York Inc.’s stores that sell products at a discount will have a new option Monday when the retailer debuts Barneyswarehouse.com, a permanent off-price e-commerce site. Barneys New York also operates nine full-price stores.
Products will include out-of-season men’s, women’s and children’s apparel, and items from Chelsea Passage, the home décor department, Barneys New York says. Until Monday’s launch, Barneys New York has not maintained a permanent online discount web site.
Though it confirmed the launch, Barneys New York would not comment on the strategy behind the new site. The web site today gives no indication that the site is about to debut; it continues to ask consumers to provide an e-mail address to be alerted to the next online warehouse sale.
The retailer, No. 168 in the Internet Retailer Top 500 guide, is the latest to pursue online discount sales. In another example, e-retailer Bluefly Inc. recently unveiled a new strategy aimed at countering online flash-sale and deep-discount rivals. Bluefly’s strategy includes bolstering the connection between its two brands, Bluefly.com, and Belle & Clive, a flash-sale site it launched in 2011. Bluefly.com offers less expensive products and doesn’t set a time limit on availability, while Belle & Clive sells more luxury brands through limited-time offers. Bluefly will sell its unsold inventory from Belle & Clive on Bluefly.
With 139 retailers, apparel and accessories is the largest merchant category in the Top 500 and had 2011 combined sales of $22.26 billion. Barneys New York sales accounted for 0.5% of that total.