Los Angeles– Sole Society, a lifestyle brand of women’s shoes, bags and accessories, announced Wednesday $8 million in Series B funding from Nordstrom and Insight Venture Partners and a newly appointed executive team to support operations and expand distribution.
Previous COO and newly appointed CEO Andy Solomon will lead this strategic growth for the born-on-the-web brand. Solomon, a founding member of Sole Society, has been a key leader on the brand’s executive team, producing consistent annual growth and expanding distribution beyond the direct-to-consumer model to retailers such as Nordstrom and QVC.
‘Significant White Space’
“We believe there is a significant white space in the market for the Sole Society product. Our customers are looking for high-quality, on-trend, but not overly trendy footwear, handbags and accessories at a fantastic value,” said Solomon. “This funding, along with our new leadership team, positions our brand for healthy growth over the next 12-to-18 months and beyond. We look forward to delivering great product for our customers and significantly increasing brand awareness by expanding the places our customers can find Sole Society shoes, handbags and accessories.”
Sole Society’s growth will be supported by two newly appointed members of their leadership team. Louisa Chen joins Sole Society as CFO, bringing a proven track record and over 10 years of experience in investment banking and financial leadership at Guggenheim, Barclays and Lehman Brothers.
Marly Dreis joins Sole Society as the Vice President of Marketing. Dreis’ extensive fashion resume includes previous roles at Kenneth Cole, Calvin Klein and Armani Exchange, along with her most recent role as Brand Strategy Director at Nordstrom. Dries is charged with building the brand voice, raising brand awareness and leading customer acquisition and retention efforts.
“I believe Sole Society has an incredible product at an unbeatable price,” said Dreis. “I see enormous opportunity for our relatively young brand. The challenge of developing the brand’s voice and visual identity, as well as the ability to build a team and execute a plan to drive growth for Sole Society was an opportunity I just couldn’t pass up.” www.solesociety.com