The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
The chain says it will match prices for online and in-store shoppers.
Staples Inc. will match prices from Amazon.com Inc. and other retailers starting Nov. 3. Today’s announcement from the office supplies chain—behind only Amazon in the Internet Retailer Top 500—puts Staples in a price-matching club whose members include Toys ‘R’ Us, Fab.com and Target Corp.
Staples did not immediately say whether its price-matching program will last past the holiday shopping season. The chain’s “Price Match Guarantee” applies to items sold and shipped by Amazon.com and “any retailer who sells products in both retail stores and online under the same brand,” Staples says.
Consumers who find lower prices on identical items can call a customer service number for purchases made online, or visit a store customer service desk for purchases made inside stores. The price-match offer does not apply to such items as copy and print products, items made by vendors, gift and phone cards and technology support services. Staples say it will not match prices tied to grand openings, clearance and other such promotions, nor sales for Black Friday or Cyber Monday—that is, the first Friday and Monday after Thanksgiving, Nov. 28.
“Staples is committed to offering great products at the best prices," says Alison Corcoran, senior vice president of North American stores and online marketing for Staples. "Whether shopping in-store or online, Staples customers will be able to shop confidently, during the holiday season and beyond, knowing that we are providing them with all the right products and must-have gifts at the lowest prices.”
Earlier this year, Target, No. 18 in the Internet Retailer Top 500 Guide, said it had made its holiday price-matching program permanent. In August, Toys ‘R’ Us, No. 30, said it would match online prices from 11 competitors. Around the same time, web-only retailer Fab.com, No. 150, launched price matching along with free shipping and returns.
In a related move, web-only retailer Overstock.com Inc. this year reduced the prices of the books to better go against Amazon.