JustFab secures $40 million in funding
El Segundo, Calif. — The fast-growing fashion subscription online retailer, JustFab, announced it has secured $40 million in Series C funding led by Hong Kong-based Shining Capital Management to further its expansion plans. The company recently opened its first store, at the Glendale Galleria, Glendale, Calif.
"JustFab is experiencing unprecedented growth worldwide as we continue to deliver high quality products at amazing prices," said Adam Goldenberg, JustFab Inc. co-CEO. "We are adding over 400,000 new members every month in Europe, proving that our value proposition and subscription model resonates with shoppers all over the world."
With plans to increase the range of its product offerings and to push further internationally, JustFab Inc. will use the capital to provide cash flow for future acquisitions and other opportunities for growth. In addition to Shining Capital Management, existing investors Matrix Partners, Rho Ventures, Technology Crossover Ventures (TCV) and Intelligent Beauty participated in the round.
Schnuck Markets names former Giant-Landover prez as strategy chief
Former president of Giant-Landover, Anthony Hucker, has joined Schnuck Markets as EVP and chief strategy officer.
Hucker recently resigned as president of Giant-Landover, a chain owned by Ahold USA that runs 169 stores in the District of Columbia and surrounding areas.
"Anthony is a tremendous talent who shares our values; he’s customer-focused and a true merchant in every sense," Schnucks chairman and CEO Scott Schnuck said. "We expect that he will add velocity to efforts that will ensure Schnucks’ continued growth and success."
Shopgate enables online merchants to compete with larger retailers
Mobile commerce leader Shopgate has unveiled a new flexible pricing model that enables online merchants to set their own pricing for Shopgate’s m-commerce solutions.
The new pricing allows e-commerce stores to customize their minimum contract period, fees and mobile integration to conveniently enter a rapidly growing mobile shopping market.
Shopgate’s powerful m-commerce package for online retailers includes a mobile online shop, iPhone and Android apps and iPad and Android Tablet apps. With the new pricing model, every merchant receives a full mobile shopping package for the price of their choice. An e-commerce store could even go mobile for as little as $9 a month. This flexible pricing, according to the company, reduces business risk to a minimum while ensuring that retailers receive all of the m-commerce features they need to be successful.
Additionally, the new pricing model now allows online merchants choose how they want to set up their mobile stores. Merchants can now decide whether they will use Shopgate’s Do-It-Yourself solution to go mobile, or have Shopgate integrate their mobile shop for them. Merchants also have the option get telephone support and tips on how to market their mobile store effectively.
Finally, the new pricing model allows online merchants to test the Shopgate m-commerce solution for one month with a 30-day money-back guarantee.
“Our overall aim is to provide the best solution for our merchants’ mobile presence,” said Andrea Anderheggen, founder and CEO of Shopgate. “With the full power of m-commerce by Shopgate, online merchants can maximize their revenue easily without risk and at a convenient price. With Shopgate, merchants get the full package and don’t need any additional technical or sales know-how. We take care of them right from the beginning.”