Manhattan-based menswear brand Mack Weldon, known for combining silver into its cotton and Lycra underwear and T-shirts, gets $4 million in funding.
Forget silver bangles and earrings. Underwear made of pure silver is the latest craze. Manhattan-based Mack Weldon, a three-year-old menswear brand that makes underwear and R-shirts with silver, cotton and Lycra, has attracted $4 million in Series A funding, the company announced Tuesday.
The e-commerce company, which touts the anti-odor and minimal shrinkage benefits of its merchandise, plans to use the money to boost sales, innovate and expand marketing—possibly through third-party partnerships and collaborations.
“Our mission is to turn the traditional process on its head by delivering products that maximize comfort and performance through a shopping experience that is easy, consistent and repeatable,” said Brian Berger, co-founder and chief executive, in a statement. He noted that the brand has more than 50,000 repeat customers, and plans to gain even more. “Let’s face it, everyone benefits when guys refresh their underwear,” he added.
The funding round was led by RiverPark Ventures, Bridge Investments and Lyrical Partners. “Mack Weldon stands out because they have true product integrity and, even at this early stage, have created brand differentiation,” said Andy Appelbaum, managing partner at RiverPark Ventures, in a statement.
Mack Weldon is one of a handful of underwear startups in growth mode. Frigo, a men’s underwear brand that counts Derek Jeter as an investor, recently signed a licensing deal to expand distribution.
Original Source: crainsnewyork.com