Company type | Private |
---|---|
Industry | Jewelry, fashion accessories |
Founded | October 2009 |
Founder | Kiyan Foroughi, Avid Larizadeh |
Headquarters | , |
Area served | Global |
Products | Jewelry, Handbags, Fashion accessories |
Website | Boticca.com |
Boticca was a London-based retail website for jewelry and fashion accessories, that featured a selection of emerging fashion designers. [1] [2] [3]
Kiyan Foroughi, a French former investment banker while on holiday in Marrakesh in December 2008, engaged in conversation with jewelry designer Mariam. [4] Living in the Atlas Mountains, Mariam travelled to the souq in Marrakesh three times a week to sell her jewelry, mainly to tourists. Foroughi decided to launch a retail website with co-founder Avid Larizadeh selling emerging designers like Mariam. [5]
Since launching in January 2010, [2] the company featured in Vogue, [3] and worn by Kate Moss, Cameron Diaz and Jessica Alba. [3] [6]
In the company's first round of funding, Boticca raised $2.5M, led by ISAI and joined by Japanese Internet incubator Digital Garage. [7] In its second round in September 2013 it raised an additional $4 million (£2.44m), led by UK venture capital firm MMC Ventures, and high-net-worth individuals, including Sina Afra. [5]
In April 2014, co-founder Avid Larizadeh, left Boticca operationally in her role as COO while remaining a founding shareholder of the business.
In September 2014, Boticca unveiled a fully rebranded website with major UI improvements, a novel content strategy, a shipping partnership with DHL and the appointment of Dave Killeen (formerly Product Lead at Badoo and Executive Product Manager for the BBC iPlayer) as Product Director. [8]
In October 2014, Boticca appointed former Liberty Fashion Director and MyWardrobe Buying and Merchandising Director Luisa De Paula as the new Fashion & Brand Director. [9]
In August 2015, Boticca was acquired by Wolf & Badger. [10]
As of June 2020, Boticca.com redirects to the Wolf & Badger website.
The company took only a maximum 35% of the sale price, [5] as opposed to the normal online retail model of between 40% and 50%, leaving the creator with 65%. [5] The company garnered between 30 and 40 new retail designer applications each week, of which on average just 3 or 4 were listed on the website. [5] The company also sourced through two in-house style hunters, who through researching through web, magazines, blogs, trade shows and fashion weeks spotted new talent, and hence sourced around 90% of the newly listed product. [5] Global designers could apply to be featured, but all designers had to uphold the "Designer Charter" in order to ensure quality of both product and customer service. [11]
By January 2011 Boticca was retailing independent designers from over 40 countries, including Estonia, Lebanon, South Korea the United Arab Emirates and Colombia. [1] 155 of the 350 brands sold through the website led on jewelry, whilst the rest covered accessories such as bags, scarves, belts and hats. [5] After the second round of fund raising, the company launched Boticca.fr in September 2013, making France the companies' third biggest market after the UK and United States. [5]
The Independent rated it first in their 2014 survey of the top six jewelry retail websites. [12]
Company type | Private |
---|---|
Industry | Jewelry, fashion accessories |
Founded | October 2009 |
Founder | Kiyan Foroughi, Avid Larizadeh |
Headquarters | , |
Area served | Global |
Products | Jewelry, Handbags, Fashion accessories |
Website | Boticca.com |
Boticca was a London-based retail website for jewelry and fashion accessories, that featured a selection of emerging fashion designers. [1] [2] [3]
Kiyan Foroughi, a French former investment banker while on holiday in Marrakesh in December 2008, engaged in conversation with jewelry designer Mariam. [4] Living in the Atlas Mountains, Mariam travelled to the souq in Marrakesh three times a week to sell her jewelry, mainly to tourists. Foroughi decided to launch a retail website with co-founder Avid Larizadeh selling emerging designers like Mariam. [5]
Since launching in January 2010, [2] the company featured in Vogue, [3] and worn by Kate Moss, Cameron Diaz and Jessica Alba. [3] [6]
In the company's first round of funding, Boticca raised $2.5M, led by ISAI and joined by Japanese Internet incubator Digital Garage. [7] In its second round in September 2013 it raised an additional $4 million (£2.44m), led by UK venture capital firm MMC Ventures, and high-net-worth individuals, including Sina Afra. [5]
In April 2014, co-founder Avid Larizadeh, left Boticca operationally in her role as COO while remaining a founding shareholder of the business.
In September 2014, Boticca unveiled a fully rebranded website with major UI improvements, a novel content strategy, a shipping partnership with DHL and the appointment of Dave Killeen (formerly Product Lead at Badoo and Executive Product Manager for the BBC iPlayer) as Product Director. [8]
In October 2014, Boticca appointed former Liberty Fashion Director and MyWardrobe Buying and Merchandising Director Luisa De Paula as the new Fashion & Brand Director. [9]
In August 2015, Boticca was acquired by Wolf & Badger. [10]
As of June 2020, Boticca.com redirects to the Wolf & Badger website.
The company took only a maximum 35% of the sale price, [5] as opposed to the normal online retail model of between 40% and 50%, leaving the creator with 65%. [5] The company garnered between 30 and 40 new retail designer applications each week, of which on average just 3 or 4 were listed on the website. [5] The company also sourced through two in-house style hunters, who through researching through web, magazines, blogs, trade shows and fashion weeks spotted new talent, and hence sourced around 90% of the newly listed product. [5] Global designers could apply to be featured, but all designers had to uphold the "Designer Charter" in order to ensure quality of both product and customer service. [11]
By January 2011 Boticca was retailing independent designers from over 40 countries, including Estonia, Lebanon, South Korea the United Arab Emirates and Colombia. [1] 155 of the 350 brands sold through the website led on jewelry, whilst the rest covered accessories such as bags, scarves, belts and hats. [5] After the second round of fund raising, the company launched Boticca.fr in September 2013, making France the companies' third biggest market after the UK and United States. [5]
The Independent rated it first in their 2014 survey of the top six jewelry retail websites. [12]