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Olivela raises $35 million funds to expand business

Luxury apparel retailer Olivela has raised $35 million in a Series A funding round, led by Morgan Stanley & Co. International. The retailer plans to use the new funds to expand its business both digitally and physically. This expansion will help Olivela find and partner with more charitable organisations in the U.S. and around the world.

The new funding will be used to fuel Olivela’s new campaign for the quarter called ‘Women’s Empowerment.’ The campaign includes a trip to Jordan where Boyd will meet with 30 young women who were sent to school from Olivela’s donations last year, as well as 100 more who will go to school next year thanks to purchases on and in store.

Olivela plans to open additional boutiques this year with the funding, but it is ramping up its focus on the holidays. The merchant did 90 times the number of transactions in December 2018 than in January 2019. It now looks forward to expanded offerings and brands this season.