Moda Operandi Nets $165M in Funding

New York--Moda Operandi has announced that it has received a $165 million investment from C Ventures and K11 Investment, led by businessman Adrian Cheng, who partnered with Apax Digital on the venture.

One of Cheng’s family businesses is Chow Tai Fook Jewellery Group; he serves as one of the executive directors of the Chinese jewelry retail giant.

“I am hugely excited about Moda Operandi as an investment prospect,” Cheng said. “Its business model is cutting edge, with a curated customer experience that has a lot of potential within C Ventures’ and K11 Investment’s networks of brands, which collides the worlds of fashion, creative media and art to service millennial consumer interests in the global market. I’m looking forward to seeing how the brand grows and taps into this big business opportunity.”

Moda Operandi said that its latest round of funding will help it to grow internationally, particularly in Asia and the Middle East.

Its last round of funding was in 2014; existing investors include New Enterprise Associates, LVMH and Fidelity. Since then, the businesses has more than tripled and international markets account for more than a third of it.

Before this round, the company had raised $132 million in capital since its 2011 launch.

Moda Operandi CEO Deborah Nicodemus said: “Moda Operandi is the only multi brand e-commerce site where the shopping experience is dedicated to elevating the brand’s digital presence. Our continued success demonstrates the strength of our business, and gives new and existing investors the confidence in our capacity to pursue tremendous global growth.

“We look forward to continuing the momentum behind the transformation of the online luxury experience for our global clients. Through the leadership of the Moda team, and the bench strength of our existing investors coupled with the new partnership of Adrian Cheng and Apax Digital, we are defining the future of luxury ecommerce.”

Moda Operandi, which recently made a U.S. list of top start-ups, said it will continue to expand its in-person showroom and stylist programs to remain high-touch and hands-on with clients. It also is looking to expand its categories, its customization abilities and mobile business.

The company said its showroom concept and stylist program will aid in continued international growth as the high-touch client services complement the high-tech business approach.