Swimwear brand Andie secures fresh funding, steps into loungewear

Swimwear and intimates brand Andie has raised fresh funding as it steps into the red-hot loungewear market.

The company revealed Tuesday it has secured 18.5 million dollars in a Series B funding round led by Marcy Venture Partners with participation from previous investors City Rock and Gaingels.

Andie was launched in 2017 as an inclusive swimwear brand, before branching out into intimates earlier this year.

The brand, which opened its first retail pop-up last month in West Palm Beach, Florida, said it would use the new investment to expand its omnichannel distribution as well as its international presence.

Andie also said it plans to grow its executive team and continue to build on the momentum of its product offerings “to meet the evolving needs of its customers”.

The brand achieved 100 percent year-over-year growth from 2020 to 2021, with sales in Australia soaring by 500 percent.

CEO and founder Melanie Travi hailed an “extremely high growth year for the brand”.

Andie launches first loungewear collection

The company also revealed Tuesday it is branching out into a new category with the launch of its first loungewear collection.

The collection is made from Eco Bamboo, a fabric woven from 50 percent bamboo and 50 percent recycled polyester. Prices range from 45 dollars to 65 dollars, with sizes from 0-26 (XS-3XL).

Larry Marcus, co-founder and managing director of Marcy Venture Partners, said: “We resonate with Andie’s brand values of inclusivity, empowerment and sustainability.

“We are happy to be backing Melanie and team as they continue their growth and innovation of their highly customer-centric brand.”