Reformation Raises $12 Million In Funding, Thanks to Stripes Group, 14W, And Karlie Kloss
Reformation's founder and creative director Yael Aflalo just gets me with her eco-and-wallet-friendly merch. Her whole business plan has gotten a flock of millennial women supporting the brand sans funding, but now, Reformation has raised $12 million in funding led by Stripes Group and 14W.
Andrew Rosen of Theory, Miroslava Duma, and Karlie Kloss all participated in the fundraising effort. And thank the fashion fairies for it, because the money will be used for opening more store locations, "expanding manufacturing capabilities," and creating a technical system that will allow for in-store returns for items purchased online, according to Fashionista.com.
And, to make the clothing more eco-friendly, Aflalo and her team are working on making the clothes more sustainable by using fabrics that are more washer-friendly and using more sustainable fabric dyers and printers.
While locations for the new stores have not been revealed, Aflalo is planning to focus on the U.S. market. Right now, there are only three locations: two in New York City and one Los Angeles. And even celebs are big fans of Reformation's clothing—Taylor Swift and Rihanna are frequent shoppers.
But Aflalo's story wasn't always a success. At just 21, she started her line Ya-Ya, which began to take off and gain success. But as the recession hit, she fell in debt with suppliers, and closed her store down, according to the New York Times.
From there, she began fixing up vintage dresses and opened up a new, smaller store called Reformation. And that's when the magic happened, and led to her NYC expansion. After a trip to China, she began to see the "harmful effects that producing and manufacturing clothes had on the environment," according to the Times.
And now, with this funding project and success, Aflalo can make her dream of sustainable and affordable clothing more accessible to women across the country come true. That's what you call a come up, people.