Parade, a direct-to-consumer underwear brand, has reportedly entered into a 200 million dollar valuation following its latest round of funding.
The news is according to the brand’s founder and CEO Cami Téllez, who told WWD about the new fundraising at the recent Femmy Awards in New York City, during which Parade won the ‘rising star award’.
Speaking to the publication, Téllez said that while the category was difficult to break into, she believed the team “built a really powerful foundation for growing the business on”.
Téllez declined to comment on the amount of the latest round, however noted that revenues for the business, which was founded in 2019, have grown by 200 percent, year-over-year.
It comes as Parade announced a new wholesale partnership with Urban Outfitters, which sees the brand introduced into 25 of the retailer’s US-based stores.
Moving into the new omnichannel setting, the CEO continued to add that more “retail experiences” were set to come as the brand looked to acquire new customers.