FINANCE

American Eagle invests in hot online company

BY Deena M. Amato-McCoy

American Eagle Outfitters is taking its partnership with Dormify to a new level.

The teen retailer is the lead investor in a $3.45 million Series A investment in Dormify. The online retailer that caters to college and dorm supplies plans to use the investment to scale talent, expand pop-up locations, and enhance the online experience for their customers.

Specifically, Dormify plans to use the funding to create an even more personalized online shopping experience. Dormify also plans to launch additional pop-up locations in the spring of 2019 to coincide with the excitement of college decision day.

Dormify’s first three pop-up stores opened in May in New York City, Chicago, and Washington, D.C. Each store enabled customers to explore merchandise and styling ideas before making a purchase, as well as order merchandise in-store, and have items shipped directly to their dorm.

In addition to these ventures, the retailer will continue to scale its “Dormifam” on-campus ambassador program, a move that will enable the company to stay engaged with its devoted college following, according to the company.

The deal is an extension of an existing relationship between the two companies. In addition to co-developing bedding sets with Dormify, American Eagle sells the collections online and at its Union Square store in New York City.

“We are thrilled to have the support of AEO as Dormify continues to build the ultimate destination for college and small spaces,” said Amanda Zuckerman, Dormify’s co-founder and creative director. “This investment will allow us to continue to make our mark within the back-to-college industry, and through our strong partnership with American Eagle, Dormify will have the opportunity to connect with even more students across the country.”

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