Vow to Be Chic Raises $5 Million Series A Round
Vow to Be Chic, a Santa Monica based startup that offers bridesmaids’ dresses on a rental basis, announced today it secured $5 million in funding from Pritzker Group Venture Capital, Wavemaker Partners, and Women’s Venture Capital Fund. The Series A financing will be used to enhance the company’s e-commerce system and expand the team to meet the growing market demand for an affordable and convenient bridesmaid experience.
The startup was founded in 2013 by Kelsey Doorey, who came up with the idea for Vow to Be Chic while studying for her MBA at UCLA’s Anderson School of Management. The thought had come to her after the frustrating experience of having to shell out an exorbitant amount of money for a designer bridesmaid’s dress that far exceeded her budget. Doorey was able to bring her idea to fruition after winning the school’s Knapp Venture Competition and receiving funding.
Doorey’s short stint at Rent the Runway, a popular rental service for high-end designer coutures and red carpet clothing, certainly helped her understand the business model and apply that to her own business. In an interview with the L.A. Business Journal, she said, “We want to make the wedding process easier and more in line with the way millennials are used to shopping.”
Bridesmaids’ dresses typically retail for about $300, but Vow to Be Chic is able to offer shoppers a wide variety of designer outfits at a price as low as $50. With an advanced online shopping platform, a woman can find her dream dress with a simple click of a button or swipe of her finger. Additionally, the company provides other customer-friendly services such as complimentary personal styling, a great-fit guarantee policy, and free shipping and dry cleaning.