DSTLD
| File:DSTLD.png | |
| Company type | Private |
|---|---|
| Industry | Clothing |
| Predecessor | 20Jeans |
| Founded | 2014 in Los Angeles, California, US |
| Founders |
|
| Website | www |
DSTLD (pronounced distilled) is an American clothing company, founded in 2014 by Corey Epstein, Ryan Jaleh and Mark Lynn and backed by Asher New York Holdings.[1] The California-based company designs and retails a line of mostly denim-based clothing. The company has become known for its relatively affordable pricing, environmentally friendly design and manufacturing,[1][2] a direct-to-consumer retail strategy.[3]
History
[edit | edit source]DSTLD was founded by co-CEOs Corey Epstein, Ryan Jaleh and Mark Lynn.[4] The company was first founded by Epstein as 20Jeans and operated by buying overstock fabric from Los Angeles-based high-end jeans designers to be sent overseas, to places like Hong Kong and Shanghai, turning the fabric waste into low-cost jeans that the company then resold for $20.[1][5] Epstein was joined Lynn and the two rebranded the company as DSTLD in April 2014.[1][4] They hired Anh Vu, formerly of Gap Inc. to head the initial design team.[5] In April 2016, DSTLD hired designer Paul Roughley, previously of Kill City Clothing, as the new design director.[2][6]
The company gained a seed round investment of $4.4 million from investors including CAA Ventures and CrunchFund.[5] In September 2015, the company announced that it will be using the SeedInvest platform to offer its customers the opportunity to directly invest in the start-up.[7][8] The crowdfunding was made possible by the Jumpstart Our Business Startups Act.[1][9] By the end the month, "DSTLD had received more than $7.6 million in indicated interest."[7] In summer 2016, the company announced a Series A round open to the public. As of August 2016, it had gained funds "from more than 450 people investing an average of $2,400."[1] By April 2017, using SeedInvest, the company had raised $1.75 million.[10] In August 2017, the company reopened the platform for a second round of investment through crowdfunding.[11]
In January 2019, DSTLD announced it was looking to open a UK showroom and list on London's AIM stock market. The company intends to use the funds it raised at the end of 2018 for the expansion- around £1.6 million.[12]
References
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