Koio, the D2C luxury sneaker brand, raises $6 million

TechCrunch | 10/22/2019 | Staff
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/10/180125_Koio_047_focus.jpg?w=764

Koio, the high-end sneakers brand led by Chris Wichert and Johannes Quodt, has today raised an additional $6 million in Series A funding, bringing total Series A funding to $9 million. The round was led by Founders Fund, with participation from existing investors Acton Capital Partners and Brand Foundry, among others.

The direct-to-consumer product was started when Wichert and Quodt got sick of spending so much on their high-end leather sneakers.

Koio - Shoes - Manufacturing - Italy - Factory

Koio designs their shoes in-house, and does all its manufacturing in Italy in a factory shared with Chanel. The average shoes on Koio go for about $250.

The startup sells primarily through its own sales channels, either via its online channels or at its pop-ups/brick-and-mortar locations. Of all its direct sales, 60 percent come from the web with the remaining 40 percent coming from retail stores.

Percent - Sales - Partnerships - Retailers - JCrew

About 10 percent of overall sales come from partnerships with other retailers, including J.Crew’s Madewell and Nordstroms.

Part of Koio’s philosophy is to focus on the day-to-day life of its customers.

Community - Lines - Life - Life - Worlds

“We see in our community that the lines between professional life and personal life and all the other worlds you’re a part of are blurring with no clear delineation between the two,” said Quodt. “To us, this means our customers don’t know how the day is...
(Excerpt) Read more at: TechCrunch
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