Greats raises $10 million in Series B funding
Brooklyn-based footwear brand Greats on Thursday announced that it has raised $10 million in Series B funding, led by JH Partners. The round also included returning investor Resolute Ventures, retired NFL star Adrian Wilson and Eric Zinterhoffer of Searchlight Capital among others.
Greats, which was founded by Ryan Babenzien and Jon Buscemi, will put the new funding towards expanding its team and product offering and taking a new approach to retail.
Babenzien said in an interview that the brand is “taking a more measured approach and signing temporary leases,” which will be for as many as 10 pop up shops that will open throughout the US in the next two years. Greats previously operated an 18-month pop up store, but shut it down when its lease went up.
According to Business Insider, the brand will open its first permanent retail location in New York City in July.
The Series B funding follows Greats’ appointment of Rachel Ulman as President/COO. Ulman, an e-commerce veteran, joined Greats in November, having worked at Amazon, MyHabit.com, Walmart and McKinsey & Company.
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