- Dale Arden Chong |
San Francisco-based luxury handbag and leather goods brand Senreve announced on Nov. 4 that it raised 16.75 million USD in Series A funding. This funding brings the company’s total capital raised to over 23 million USD, which has been raised in three years of business.
According to an announcement from the brand, this recent round of funding will provide the brand and its co-founders, chief executive officer Coral Chung and chief operating officer Wendy Wen, the means necessary to reach a global scale. The founders’ combined experience in finance, consulting, retail and tech has contributed to the brand’s success. The two have used a combination of consumer data, smart manufacturing and inventory planning in order to avoid challenges typically seen among traditional luxury brands.
“We focus on authentic brand storytelling, creating beautiful and luxurious products, and engaging with customer feedback and data,” Chung said in a statement. The company partners with Norwest Venture Partners for its latest round of funding, which has also funded in brands including Kendra Scott, Jet.com, Casper, and others.
“In a world where direct-to-consumer channels have become increasingly crowded, Senreve has been extremely savvy about how they introduce themselves digitally,” Sonya Brown, general partner at Norwest, shared in the announcement. “Coral and Wendy’s ability to build a luxury brand practically overnight is a testament to their authentic understanding of the modern woman. In particular, Senreve resonates with the next generation of powerful women because they don’t compromise functionality to achieve luxury, and they shouldn’t have to.”