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
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]
External links
References
- Jessica Goodheart. This Denim Company Thinks Blue Jeans Can Go Green And Still Be Affordable Fast Company, 2017-07-26, retrieved 2017-12-13^
- Esha Chhabra. The Fabric of Our Lives or the Planet's Latest Threat? Fashion Startups Look Into Cotton Alternatives Vogue, 2016-08-03, retrieved 2017-12-13^
- Alexia Tsotsis. DSTLD Is Everlane For Jeans TechCrunch, 2014-11-10, retrieved 2017-12-13^
- Danielle Prescod. Introducing the Premium Denim That Will Only Cost You $65 ELLE, 2014-04-07, retrieved 2017-12-13^
- Eliza Brooke. Meet DSTLD, the Denim Brand That's Promising Killer Jeans for Under $100 Fashionista, 2014-11-26, retrieved 2017-12-13^
- Alison A. Nieder. DSTLD: Building the Wardrobe One Premium Piece at a Time California Apparel News, 2016-10-27, retrieved 2017-12-13^
- Lauren Sherman. Why One LA-Based Denim Brand Is Inviting Fans to Be Investors Yahoo! Style, 2015-09-28, retrieved 2017-12-14^
- Lauren Sherman. Is There Still Hope for Fashion Crowdfunding? The Business of Fashion, 2015-11-26, retrieved 2017-12-14^
- Bethany Biron. How DSTLD is democratizing denim Glossy, 2016-06-27, retrieved 2017-12-14^
- Esha Chhabra. One Year In, Equity Crowdfunding Is Still Waiting For Its Moment Fast Company, 2017-04-25, retrieved 2017-12-14^
- Hilary Milnes. How DSTLD, the first customer-funded fashion brand, tripled revenue in one year Glossy, 2017-08-09, retrieved 2017-12-14^
- Elias Jahshan. DSTLD eyes UK expansion with London listing & showroom - Retail Gazette Retail Gazette, 2019-01-04, retrieved 2020-06-02^