The indie lingerie model, cofounded by “Fashionable Household” star Sofía Vergara and Renata Black, has secured $6 million in a sequence A spherical. Now, the New York-based e-tailer, which was established in 2018, has some lofty targets: to change into the trade chief in seamless innerwear.
“The objective for EBY is that each single girl who’s carrying leggings needs to be carrying EBY underwear. Onerous cease, interval,” Black, who additionally serves as EBY’s chief govt officer, advised WWD. “Why? As a result of I don’t care what product you place subsequent to our product, we’re the authority on the subject of seamless due to our technology. It’s a technology that solves the one drawback that girls have, which is using, bunching or choosing a wedgie the place you don’t wish to. So it’s actually a performance-based product.”
EBY, which stands for Empowered by You, makes use of a patented flocking, or “no-slip-grip,” expertise for its seamless panties and bralettes.
However Black added that the corporate’s targets embody extra than simply promoting underwear — and even to be referred to as one other female-founded enterprise, or a size-inclusive model. Moderately, EBY goals to have a objective. That’s why 10 % of proceeds from EBY underwear go to the Seven Bar Basis, a nonprofit that helps girls dwelling underneath the poverty line by instructing them finance to allow them to begin their very own companies.
“What number of manufacturers are dimension inclusive?” Black stated. “It’s a given [at this point]. There’s illustration, after all. That shouldn’t be a novelty. However with the ability to allow girls to make an affect with the one choice she makes, that’s superior. I could make an affect with simply the underwear I determine to put on. There was positively a gap available in the market, as a result of no person was actually doing that.
“Folks at the moment are in search of extra objective inside the manufacturers that they’re supporting,” Black continued. “Most of our demographic desires to have an effect.”
In the meantime, EBY, which started as a subscription mannequin, supplying consumers with three pairs of underwear as soon as each three months, now operates totally e-commerce, permitting customers to pick between the month-to-month membership or shopping for a la carte.
“And a few individuals are, like, ‘Do you really want subscription underwear?’” Black stated. “Whenever you’re getting three pairs of underwear as soon as each three months, it’s type of a blessing. Particularly in the event you’re tremendous busy. Or, in the event you don’t really feel like doing laundry.”
Black credit former Victoria’s Secret CEO Grace Nichols as considered one of her earliest mentors and the one that taught her to pay cautious consideration to client habits.
“She’s the one that actually made me sit in shops, see how girls shop and helped me formulate the very best product, and likewise labored by the message with me, which is in the end why we’ve been so profitable,” Black defined. “We’ve modeled EBY’s subscription service to mannequin our clients’ behaviors. And the product is one thing you really need.”
“Girls are often shopping for underwear three or 4 instances a yr and shopping for them in handfuls,” Black continued. “I do know that as a result of I spent the primary few months previous to launch simply sitting in shops, watching how girls shop.”
The end result led to EBY doubling revenues between 2018 and 2019, Black stated, which led to the e-commerce growth in September 2020. The CEO added that the agency is on observe to as soon as once more double revenues within the yr forward.
“In lower than three years, we’ve had over 10,000 five-star reviews,” Black stated. “That’s loads for a small firm like ours.”
The success additionally attracted the eye of traders, together with Colt Ventures, which led the sequence A spherical.
“Now greater than ever, we’re excited to put money into a female-led firm, resembling EBY, that’s bursting with market potential and has a notable social mission to assist girls globally,” stated Sundeep Agrawal M.D., managing director at Colt Ventures. “Identical to Colt Ventures, EBY is laser targeted on the long run. We’re excited to assist Eby as the corporate enters its subsequent development section.”
Different traders embody Azure Capital; Robert DiRomualdo, Ulta Beauty’s chairman of the board; Ken Goldman, former chief monetary officer at Yahoo, and Duncan Niederauer, former chief govt officer of the New York Inventory Trade.
Vergara, for her half, is not any stranger to the fashion and retail industries both. The actress launched Sofía Jeans by Sofía Vergara with walmart.com in 2019, which features a full assortment of apparel items. Earlier this yr, Vergara stated she was moving into the beauty space as well. She additionally has collaborations with sun shades model Foster Grant and Payless sneakers, and had a four-year cope with Kmart that included apparel, accessories, swimwear, shapewear, jewelry, baggage and residential items. As well as, Vergara has had licensing and endorsement offers with a variety of firms and types, together with Cowl Lady, Head & Shoulders and Kay Jewelers.
“This has at all times been part of my profession,” Vergara advised WWD in 2019. “I like being inventive with the companies that I be a part of,” including that she chooses alternatives primarily based on if it’s “one thing that I actually use, that I actually like, that I’m actually going to put on. It must be actual for me — if it’s a shampoo, if it’s a fragrance or if it’s an underwear.”
As for EBY, which has about 20 workers proper now, the start-up plans to make use of the added funds to pump up its workers, together with hiring a chief working officer to assist run the corporate; enhance advertising efforts, together with utilizing influencers in future campaigns; additional product improvement, innovation and new classes, and broaden internationally with e-commerce companies in Canada and the U.Okay.
First on the record is EBY’s limited-edition Seamless Luxe Assortment, which launches immediately.
“Put up-COVID-19, what our clients stated was, ‘I wish to put make-up on. I wish to get my hair achieved. I wish to put on heels. I wish to cling up my sweatpants and I simply wish to get dolled up and look lovely,’” Black stated. “And that’s actually what the Seamless Luxe Assortment is about. But in addition not having to sacrifice consolation.
“Now we have some actually cool new product launches [coming later in the year],” Black continued. “Now we have a mesh launch, seamless mesh, seamless interval underwear and a seamless cotton assortment. So, it is going to be a one-stop shop for all issues seamless.”
https://wwd.com/fashion-news/intimates/eby-lingerie-sofia-vergara-6-million-1234904186/ | Sofía Vergara’s Lingerie Model EBY Will get $6 Million Enhance – WWD