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BREAKING: StyleTread Announces $12M in New Funding

StyleTread

Who says free, fast delivery and exceptional customer service can’t be profitable? StyleTread has just announced that it has sourced a massive $12 million in funding and it looks like global expansion and new fashion markets are on the cards.

Australian pureplay online shoe retailer StyleTread has today announced that Starfish Ventures will join existing investors Lakestar, Nine Enetertainment Co. and Adinvest in the latest round of funding, financing a massive $12 million investment. Not a bad feat for a company that launched 15 months ago.

“This latest round of funding allows us to considerably expand the range of already over 60,000 shoes and over 150 brands, as well as explore adjacent geographic markets and fashion segments,” says Mark Rowland, Chief Happiness Officer at StyleTread.

Starfish Ventures is a Melbourne-based venture capital firm with over $400 million under management. The latest investment means that StyleTread is now owned by a majority of Australian shareholders.

Inspired by US online apparel retailer Zappos, StyleTread offers free express delivery and a free 100-day returns policy on all shoes Australia-wide. Earlier this year, StyleTread introduced a 3-hour delivery within Sydney.

StyleTread has also announced that it will be launching next-day delivery for the New Zealand market later this week.

Natasha Sholl

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Natasha is a content creator for The Media Pad, publisher of Power Retail. She has a background in law and communications and a passion for all things retail. Natasha loves analysing and problem solving all of the challenges and trends that come with new media and the online retail space. Natasha is a yoga addict and reluctant running devotee, both of which are offset by her serious caffeine addiction and obsession with baking. Follow Natasha on Twitter and Google+ or connect with her through LinkedIn

5 Comments

    • Me
    • 28th March

    Not sure about the title ‘Who says free, fast delivery and exceptional customer service can’t be profitable?’ , Mark is quoted saying this month that Style Tread in not yet profitable. i think it is yet to be proven that the Zappo’s model can work profitably in Aust as it will take longer to hit critical mass of order output to offset the massive postage and customer service costs.

    Reply
    • What does raising $12M have to do with profit? Zappo’s (from what I know) has never been that profitable. I know some in this industry that started with $100 (never borrowed a cent) and now turn close to $10M and make solid profit. But you wont hear about them because they don’t need to draw attention to themselves to raise money.

      Reply
    • craig
    • 28th March

    SO Mr. Harvey, do you reckon style tread are down grading their forecast for online revenue in the next 12 months? I doubt it – they get it!

    Reply
    • v
    • 30th March

    That’s too bad

    Reply
  • Great article Natasha,

    do we know which other fashion markets they are going into?

    Reply

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