Business of Fashion (BoF) raised a Series B investment with The Financial Times (FT) leading the round with participation from Index Ventures and Felix Capital, who led the Seed and Series A rounds, respectively. The Financial Times investment will also come with a collaborative partnership.
WHO: Business of Fashion started as a blog in 2017 by Imran Amed. Today Business of Fashion is recognized around the world for its authoritative, analytical point of view on the $2.5 trillion global fashion industry. Serving a community of members in more than 125 countries, BoF combines independent, agenda-setting analysis with practical business advice, online learning, career-building tools, and immersive events and experiences, powering positive change in fashion and the wider world.
The Financial Times is one of the world’s leading business news organizations, recognized internationally for its authority, integrity, and accuracy. FT has a record-paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news, and services for the global business community.
WHY: BoF plans to accelerate the growth of its community of five million people around the world, including more than 35,000 paying members and more than 500 corporate partners in 125 countries. FT Strategies, the consulting arm of the FT, will support this goal.
IN THEIR OWN WORDS: Imran Amed, BoF founder, Editor-in-Chief, and CEO, said: “We are delighted to partner with the Financial Times at this important juncture in the growth and development of our business. As a team, we have always admired the FT’s commitment to quality and integrity, its global perspective and its pioneering business model focused on digital subscriptions. This partnership will enable us to learn from the FT’s expertise and to find creative ways to work together in fulfilling BoF’s mission of bringing together the world’s largest community of fashion professionals.”
John Ridding, FT Group CEO, said: “The FT has long had a leading position in coverage of the luxury consumer sector, notably through the award-winning How to Spend It, and this investment will give us greater presence in the B2B and industry agenda. We are really impressed by the quality and dynamism of The Business of Fashion. There is a natural alignment between our global mindset and our focus on reader revenue to support quality journalism. We are excited to partner with Imran and his team to explore those synergies further.”
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