Moda Operandi has raised a whopping $165 million to fuel international growth and development across its businesses. This round of funding was led by Apax Digital and Adrian Cheng, a prominent investor in the fashion space whose family businesses include Chow Tai Fook Jewellery, New York Development, Rosewood Hotel & Resorts, and K11. Apax Digital is a new growth capital fund advised by Apax Partners, the global private equity firm. Moda Operandi, which launched in 2011, has previously raised over $132 million in funding from investors such as New Enterprise Associates, LVMH, and Fidelity.
The luxury e-tailer, which was the first to provide consumers with access to full collections straight off the runway, is planning to focus expansion on Asia and the Middle East, as international markets now represent more than one third of Moda Operandi’s demand. The company plans to expand its showroom concept and stylist program and will improve mobile technology, customization, personalization, and internationalization. The funding will also support Moda Operandi’s marketing strategies and customer acquisition programs, while enabling the expansion of its brand portfolio.
“Our continued success demonstrates the strength of our business, and gives new and existing investors the confidence in our capacity to pursue tremendous global growth,” said Deborah Nicodemus, CEO of Moda Operandi, in a press statement. “We look forward to continuing the momentum behind the transformation of the online luxury experience for our global clients. Through the leadership of the Moda team, and the bench strength of our existing investors coupled with the new partnership of Adrian Cheng and Apax Digital, we are defining the future of luxury e-commerce.”