LA-based womenswear brand Anine Bing has closed a $15m (£11.6m) Series A funding round to fund its international growth plans and double the size of its business by 2020.
Anine Bing, who co-founded her eponymous label in 2012 with her husband and now chief executive officer Nicolai Nielson, said she was “excited” to continue building the brand.
The investment round initially opened in 2016. Contributors include venture capital funds Index Ventures, Greycroft Partners and Felix Capital.
Since 2016, the company has doubled its revenue year on year, and tripled the size of the team to 51 employees. It has stores in Los Angeles, Paris, London, Berlin, Barcelona, Madrid, and a further two in New York.
Anine Bing plans to add several new retail stores in the US and overseas. It also intends to invest in technology to drive consumer insights and inform future decision making.
Nielson said: “We are excited for the significant opportunity to continue expanding and to bring Anine Bing to even more customers globally.”
The brand has recently expanded into unisex childrenswear and added handbags to its womenswear range. In an interview with the American magazine Fashionista in June, Bing admitted to being naive when she and Nielson started the company.
”I wouldn’t do anything differently, but I wish I’d known how hard the work would be,” she said. ”For the next couple of years, we’re going to open many more stores. It feels really cool to have all of them around the world … I just want to grow into a big fashion empire.”