Bringing US business models to Europe might seem an obvious move for some – but it’s frequently far harder than it might appear. US incumbents can indeed try to expand, but some fall at the first hurdle. Exactly this happened on January 20 when Shoedazzle announced its closure in the UK. UK head Nigel Whiteoak has since admitted to me that the company was looking to make more of the continued opportunity in the US, versus trying to expand in the UK. Shades of the Romans over-reaching their borders? Maybe. Whatever the case, the news has been a boon to Stylistpick, the local UK player which is making hay in the UK and now heading to other markets with a war chest.
StylistPick has now raised an $11million B round led by Fidelity Growth Partners Europe. The subscription-based fast fashion brand, kept existing investors Accel Partners and Index Ventures on board, who invested $8 million in a Series A in April 2011. The board of directors is now Davor Hebel (Fidelity), Sonali de Rycker (Accel), Robin Klein (Index) and Eileen Burbidge (Passion Capital).
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