Sole Society Announces $8M In Funding And Appoints New CEO And Executive Team
LOS ANGELES, July 1, 2015 /PRNewswire/ -- Sole Society, a leading lifestyle brand of women's shoes, bags and accessories, today announces $8M in Series B funding from Nordstrom and Insight Venture Partners and a newly appointed executive team to support operations and expand distribution.
Previous COO and newly appointed CEO Andy Solomon will lead this strategic growth for the born-on-the-web brand. Solomon, a founding member of Sole Society, has been a key leader on the brand's executive team, producing consistent annual growth and expanding distribution beyond the direct-to-consumer model to retailers such as Nordstrom and QVC.
"We believe there is a significant white space in the market for the Sole Society product. Our customers are looking for high-quality, on-trend, but not overly trendy footwear, handbags and accessories at a fantastic value," said Solomon. "This funding, along with our new leadership team, positions our brand for healthy growth over the next 12-to-18 months and beyond. We look forward to delivering great product for our customers and significantly increasing brand awareness by expanding the places our customers can find Sole Society shoes, handbags and accessories."
Sole Society's growth will be supported by two newly appointed members of their leadership team. Louisa Chen joins Sole Society as CFO, bringing a proven track record and over 10 years of experience in investment banking and financial leadership at Guggenheim, Barclays and Lehman Brothers.
Marly Dreis joins Sole Society as the Vice President of Marketing. Dreis' extensive fashion resume includes previous roles at Kenneth Cole, Calvin Klein and Armani Exchange, along with her most recent role as Brand Strategy Director at Nordstrom. Dries is charged with building the brand voice, raising brand awareness and leading customer acquisition and retention efforts.
"I believe Sole Society has an incredible product at an unbeatable price," said Dreis. "I see enormous opportunity for our relatively young brand. The challenge of developing the brand's voice and visual identity, as well as the ability to build a team and execute a plan to drive growth for Sole Society was an opportunity I just couldn't pass up."
Sole Society's aggressive expansion plans across retail and e-commerce, coupled with an expanded executive team, will continue to reinforce Sole Society as a leading fashion authority dedicated to inspiring individual style in an approachable way.
About Sole Society
Sole Society is a lifestyle brand of women's shoes, bags and accessories dedicated to thoughtful and easy style for every day. Launched in 2011, Sole Society's mission is to teach women how to start their look from the shoes up. Sole Society is committed to providing quality on-trend shoes, bags and accessories at surprisingly affordable prices. Sole Society is available at www.solesociety.com and www.nordstrom.com as well as select Nordstrom stores nationwide. The product can also be purchased on QVC, www.qvc.com and select boutiques around the country.
Perfectly imperfect, effortlessly chic and always in style—that's Sole Society.
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SOURCE Sole Society
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