Frank and Oak picks up $16 million Series C


Frank and Oak, the direct-to-consumer clothes emblem based totally out of Canada, is lately saying the shut of a $16 million USD Series C investment spherical led through Caisse de dépôt et placement du Québec, with participation from Goodwater Capital and Investissement Québec.

Frank and Oak introduced in 2012 providing customized menswear, with a suggestions e-newsletter that allow customers store with out a lot concept and pay for best what they love. Since then, the corporate has expanded past the web to 16 retail places throughout Canada, in town facilities like Toronto, Montreal, Ontario, Calgary, and Ottawa.

Frank and Oak has additionally long gone past the old fashioned e-newsletter, serving up AI-powered suggestions to contributors with a function known as Style Plan. Though the corporate received’t proportion explicit numbers, it does admit to having ‘hundreds of thousands’ of energetic contributors.

And the corporate has expanded past menswear to incorporate womenswear and equipment, as neatly. Most items moderate between $50 to $60, with a target market between 25 and 35 years outdated.

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The investment will cross towards persevered enlargement in Canada, and trying out extra leading edge product building processes.

“The greatest challenge in our space is being aware of what the consumer wants, from a product perspective,” mentioned founder and CEO Ethan Sang. “How are trends changing in fashion? How are trends changing with consumers? Our challenge is to stay ahead of that, and AI and personalization gives us an edge.”

Frank and Oak has raised a complete of $39.eight million, together with this newest spherical.

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