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(Excerpt from Mr-Mag)
Custom shirt brand Stantt has announced that it has closed a multi-million dollar round of Series A financing. Led by menswear accessories giant Randa, the round included participation from the family office of retail pioneer New England Development, emerging brands specialist CompanyFirst, Sapna Shah of Red Giraffe Advisors, and serial entrepreneur John DeWees.
The Series A financing will be used by Stantt to increase marketing partnerships and support to over 300 retail partners, enhance brand touch-points across all channels, drive expansion into new product categories, and enable the hiring of key personnel.
“Randa Digital Labs is thrilled to lead this financing round,” said Heath Golden, president of Randa Digital Labs. “As leaders in lifestyle accessories across all channels of distribution, we appreciated the value of Stantt’s business model from the beginning. We are confident that Matt and Kirk will leverage these funds to take the company to the next level of success. Adding new products and partnerships will delight consumers, promote loyalty, and generate positive returns for all stakeholders.”
“Stantt’s combination of quality, custom fit technology, and speed of delivery for a made-to-order product is revolutionary in the industry, on-trend, and truly differentiates the company within the menswear space,” added Scott Baker, head of family office investments for New England Development. “We are very excited to see what the future holds for this up and coming brand.”
Co-founded in 2013 by Matt Hornbuckle and Kirk Keel, Stantt has disrupted the menswear industry with its DataFit technology, which is comprised of 99 proprietary sizes and an algorithm requiring only 3 measurements to pinpoint a perfect fit. The Stantt line includes wovens, knits, and performance cloth in a size range that covers nearly every body type, including a new program designed specifically for big and tall stores. All garments are made-to-order and delivered in an industry-first 7 days.
“We are excited to continue on our mission to create a better way of doing things for our partner stores and a better product for their customers,” said Hornbuckle. Keel added, “Our investors in this round are true partners in the sense that they bring so much more to the table than just funding. Their experience will help us accelerate growth in 2019 and beyond.”
Stantt is currently participating in multiple fall ‘19 menswear markets, with remaining shows in Las Vegas, Chicago, Toronto, Minneapolis, and Boston. Appointments can be made through wholesale@stantt.com.
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