Something Navy's over 1.2 million followers have something to get excited about.
The influencer behind the brand, Arielle Charnas, just landed $10 million in funding from the same investor who backed Michael Kors. This makes Charnas a recipient of "one of the biggest" influencer funding rounds to date, according to Business of Fashion.
With the money, Charnas plans to expand Something Navy into a lifestyle brand and clothing line with the help of Matt Scanlan, co-founder of cashmere label Naadam. The first launch will be focused on fashion with “10 to 20 ‘core styles’ dropping every 30 to 40 days.” The products will drop on the Something Navy website but there are plans to launch a network of brick and mortar stores down the line.
This isn't Something Navy's first foray into fashion. Charnas's Nordstrom line, which debuted in September last year, reportedly amassed over $4 million in sales. Her licensing deal with the department store ends later this year.
Charnas hopes to expand from women's wear into other categories, too, with plans to "roll out accessories, home decor, childrenswear and beauty” over the next few years.
This investment brings Something Navy's valuation at $45 million... BRB, finally launching our own brand.