LittleMissMatched, a leading brand of fashion, home and lifestyle products, will be unveiling a $17.3 million infusion of growth capital funding from Catterton Partners. The investment will be used to:
* Launch a flagship retail store in New York City within the next 12 months;
* Unveil an agreement with Macy's to open 85 "shop-within-a-shop" boutiques in Macy's stores throughout the country by September and additional boutiques in 2009;
* Increase the company's distribution beyond its current 3,000 nationwide retail outlets; and
* Expand the company's product offerings.
LittleMissMatched products are available currently in more than 3,000 retail outlets nationwide including FAO Schwarz, Bed, Bath & Beyond and J.C. Penney. Company sales have grown from $5 million in 2004 to $25 million last year alone, and they have a forecasted 100% increase in sales this year.
Launched four years ago with a collection of mismatched socks sold in odd numbers to encourage girls ages 8-13 to express themselves, LittleMissMatched has
recently discovered that 35% of their consumers have actually been adults buying for themselves or other adults-showing that the desire to express one's self in creative
ways has no age limit. The company's premise is simple, "nothing matches but anything goes" and this whimsical philosophy has, well, knocked people's socks. Tags: