Rental Bridesmaid Dress Company, Vow To Be Chic, Raises Additional Capital
Millennial Women Are Saying Goodbye to the "27 Dresses" Problem with the Help of Vow, by Renting Designer Gowns for $99.
Los Angeles, California--(Newsfile Corp. - January 26, 2018) - Vow To Be Chic, the first and only company to rent bridesmaids dresses, has raised an additional $2.5M in venture funding, bringing their total funding to over $10M. Vow saves women time, money, and stress during the wedding planning process. Nine out of ten bridesmaids dresses are never worn again, which leads to $2.2B in waste every year; Vow is changing that.
The Santa Monica-based company is using the capital to spread awareness of the rental option. Millennial women are listening - and sharing.
"The realtime feedback loop we get from millennials is incredible," says Vow's founder and CEO Kelsey Doorey. "When young women learn they can rent a bridesmaids dress, they're ecstatic. Our digital channels are exploding with brides and bridesmaids sharing content with their friends to spread the word. We're going to nurture that natural virality with this fresh capital."
The round includes existing investors Pritzker Group Venture Capital and Wavemaker Partners, as well as new investors including Plum Alley. "Plum Alley believes Vow To Be Chic is bringing much needed disruption to a very traditional industry. They have created a scaleable service that provides a designer, yet cost effective, experience for bridal parties," says Ita Ekpoudom, Venture Partner at Plum Alley. "It has been wonderful to welcome Kelsey and her team into our portfolio of talented female founders building innovative, high growth companies."
Over the past year, Vow To Be Chic solidified their executive team and shifted their marketing focus to digital-first channels in order to maximize awareness. "The Vow team, under Kelsey's direction, has built up significant learnings over the past year that are critical for a disruptive technology company like Vow. They have laid the groundwork for success, and now are working on scaling the business," says Craig Dupper of Walshbone Investments GP, an investor in the current round.
Major endorsements from Rachel Lindsay, star of ABC's The Bachelorette, and Mindy Weiss, America's number one celebrity wedding planner, helped trigger an outburst of social sharing. Millennials obsessed with experiences, but strapped for cash, are crazy about the idea, and rely on social proof from trusted influencers who actively support Vow.
"Vow To Be Chic is a fresh idea for an age-old problem. I'm all for a company that is both female-founded and helps women with an everyday problem," said Rachel Lindsay, who recently launched the "Rachel" dress with the company, as part of an exclusive capsule collection.
Women everywhere can rent or purchase bridesmaids dresses from Vow To Be Chic, including the newly-launched capsule collection with Monique Lhuillier Bridesmaids, with dresses from Rachel Lindsay, Mindy Weiss, and Kelsea Ballerini.
Head of Marketing, Vow To Be Chic