September 27, 2021

Black-Owned Fashion Start-Up Autumn Adeigbo Raises Nearly $3 Million To Expand Business

Autumn Adeigbo has gone from a one-woman show to a team of four, increased revenue by 400 percent, and attracted attention from A-list stars including Mindy Kaling, Gwyneth Paltrow, and Kerry Washington.

A year and a half ago, she raised $1.3 million in investments and set up shop in Los Angeles.

Now Adeigbo, who is known for her bright designs and women’s ready-to-wear, just secured funds of nearly $3 million, led by venture capital firm Offline Ventures. This brings her total investments to more than $4 million.

Brit Morin, the general partner at Offline Ventures and founder of digital lifestyle platform Brit + Co, said: “More than just creating chic, colorful clothing, Autumn is creating a movement tied to sustainability, design, and culture.

“Never before has the world seen a multibillion-dollar fashion label from a young Black woman, but we believe that Autumn Adeigbo has the x-factor to be the first. Investing in a fashion brand is controversial in the venture capital world, but it was never a question for me to invest in Autumn. She’s a true artist with a business that is on fire.”

Autumn Adeigbo

The designer hopes to use the funds to set up a permanent office space in New York and potentially expand into other fashion products.

Speaking exclusively to WWD, the designer said: “I’m always talking to people about additional collaborations and additional realms of creativity. But I really do just want to focus on getting the operational side of the business up to speed,” Adeigbo said. “We grew so much faster than I thought. We met our revenue goals for this year in June [2021].

“So, I don’t want to grow so fast that we can’t keep up. I don’t want to say we’re slowing down. But we are focusing on getting the brand operationally sound for the rest of the year with this new round of capital.”

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.

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