PARIS — Lolo Paris, a French, digital-native lingerie brand, has secured its first capital increase from a few investors, including Obratori, L’Occitane Group’s venture capital fund and accelerator.
The amount raised was not revealed, but Obratori generally invests between 50,000 euros and 200,000 euros.
The new capital will help Lolo Paris, which creates tailor-made, eco-responsible lingerie, accelerate its growth.
Lolo Paris was launched in 2019 in Lyon, France, by Mélissa Perraudeau and Océane Brière, former engineering students. They identified pain points for women linked to lingerie’s standardized sizing dating back to 1928. For 78 percent of women, such sizes cause discomfort, and 42 percent have trouble finding their size in traditional lingerie brands, Obrati said in a statement.
Perraudeau and Brière’s idea was to take a personalized approach to lingerie, using technology to service female morphology. An online, algorithm-backed questionnaire helps people hone in on their ideal size, among 57 bra sizes. Ten underwear sizes available range from 34 to 52.
“Obratori closely follows young companies that provide innovative solutions to the well-being of men — women in this more precise case — and the planet at large. Lolo Paris brings together all the fundamental elements to be supported by Obratori: talented leaders, high-quality technological expertise, excellent marketing potential and a strong international ambition,” said Amaury Godron, managing director at Obratori, in the statement.
“Lolo Paris is now a company ready to accelerate; it has designed a product well-received by the market, the technical heart of the product is solid and innovative, and the business development plan is promising,” said Delphine Oung, investment manager at Obratori.
“Obratori’s support gives us confidence that new technologies must be made available for female wellbeing,” the founders said jointly. “The bra has not changed in 100 years, while nine out of 10 women wear one every day. The market is huge, and we are convinced that our solution has very strong potential.”
This seed funding marks the first time Obratori has backed a clothing brand. Its 11 investments since its start in 2018 have been in beauty, wellbeing and food tech. This year, the Marseille, France-based fund invested in Paper Cosmetics and Melifera, France’s first handcrafted and organic gin.
L’Occitane International SA, a natural beauty-maker and seller that’s listed in Hong Kong, has brands including L’Occitane en Provence, Elemis, Melvita and Erborian. Its products are sold in more than 3,000 doors in 90 countries.
In the first six months of its current fiscal year, ended Sept. 30, L’Occitane registered net sales of 616.6 million euros, down 15.2 percent versus the same prior-year period.
FOR MORE, SEE:
L’Occitane to Acquire Sol de Janeiro
L’Occitane Introduces MyL’Occitane Selling Platform
Paper Cosmetics Closes First Funding Round
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