Online children’s boutique looks to expand business, own brand
An online boutique focused on children’s clothing, toys, accessories and more has raised funding that will help the company grow its new children’s apparel private brand, one of the fastest growing brands on the marketplace.
Maisonette, based in New York, has been operating the last four years, offering more than 900 brands in apparel, accessories, home furniture, decor, toys and wellness items, all in the children’s category. There are more than 25,000 products offered, with 1,400 new products added monthly. Adding to the assortment, Maisonette launched Maison Me, an everyday basics private label brand in children’s apparel, a $35 billion U.S. market. The private brand has been one the site’s fastest growing brands, according to the company.
Maisonette aims to be a destination for modern-day families and sellers of all sizes. Maisonette aggregates the children's products market with a relevant, online experience that enables people to shop across categories with guidance from a team of category experts, and with the acceleration of e-commerce, the company has seen nearly three times its growth during the past year.
To support the growth, the founders tapped an executive team with experience at Walmart’s Jet.com, Rent the Runway, Birchbox and more. Through G Squared, the company announced it has raised $15 million in funding, bringing its total raised amount to $50 million.
The new capital will be used to build a next-generation technology and data platform to enhance personalization for both customers and sellers, as well as to fund international expansion and scale the team. Maisonette also announced that Pierre Poignant, co-founder of Lazada and special assistant to the CEO of Alibaba, has joined Marissa Mayer as an independent board member.
"As consumers went online for more and more of their shopping needs over the last year, we saw demand for Amazon alternatives grow," said Larry Aschebrook, managing partner, G Squared. "Maisonette was positioned well and responded quickly to the shift by offering merchandise that consumers sought, 40% of which is exclusive to Maisonette or is hard to find elsewhere. Maisonette delivered a timely and robust platform that many retailers needed to reach a large, collective audience of shoppers online."
The founders of the online boutique looked to create an Amazon alternative and also was influenced by Whole Foods Market. "We are inspired by the trusted brand Whole Foods built and the lasting competitive advantage this created as it aggregated a highly fragmented industry. Customers delight in shopping for both food staples and new brands, knowing any choice will be a quality purchase because it was curated by Whole Foods," said Luisana Mendoza de Roccia, co-founder and president, Maisonette. "Similarly, Maisonette is the modern-day, family brand aggregating the children's market. Families trust our curation across thousands of products whether they come to us for a stroller, play clothes, or toys."
Sylvana Ward Durrett, co-founder and CEO, Maisonette added, "Millennial parents are the fastest growing group starting families, having children later in life, with more disposable income. More attention- and time-strapped than ever, they prioritize quality and trusted advice for what they value most in life, their children."