The California-based contemporary brand Dôen has raised a growth equity Series A round led by venture firm Silas Capital, the company announced on Tuesday. The financial terms were not disclosed.
Founded by Santa Barbara-born sisters Margaret and Katherine Kleveland, Dôen launched in 2016 as a direct-to-consumer label offering women’s apparel, footwear and childrenswear. Since then, the line has expanded to include swimwear, sleepwear and lingerie. This year, sales are projected to swell to more than $100 million in revenue, the company said.
Silas Capital has invested in the likes of Makeup by Mario, Proenza Schouler and Casper.
Dôen’s new funding will go toward retail expansion, operational infrastructure and marketing. The brand currently operates seven stores in the US and is stocked in over 150 international retailers, including Harrods, Le Bon Marché, Saks Fifth Avenue and Nordstrom. Its year-to-date retail sales have grown 80 percent year on year.
“This has been a long time in the making, as our top priority was finding a partner who aligns with our values and long-term vision,” said Dôen CEO Margaret Kleveland in a statement.
The capital infusion marks the first significant backing for the brand, which has built a robust customer base for its laid-back day dresses and billowing cotton blouses.
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