NEW YORK--(BUSINESS WIRE)--Time Inc. (NYSE:TIME) and Keaton Row announced today that the media company has made a strategic investment in the two-year-old online social commerce marketplace, leading the Series A funding round. Also participating are returning investors including Menlo Ventures, Rho Capital and Grape Arbor Venture. As a lead investor, Time Inc. is taking a seat on Keaton Row’s Board. Keaton Row has redefined online shopping by connecting personal stylists, clients and retailers. It has become a go-to resource for busy women who want the luxury and convenience of personal shopping in an online environment.
“As we build out our fashion and beauty network, e-commerce will serve as a cornerstone and this is the first of several opportunities we’re considering,” said Evelyn Webster, Executive Vice President, Time Inc. “Our fashion brands including InStyle and People Stylewatch are highly transactional. Keaton Row’s peer-to-peer social commerce model matches our sensibility and will open up an array of e-commerce opportunities. We are excited to explore how our premium content can enhance the Keaton Row marketplace and help fuel the growth of its business.”
With a cross-platform audience of over 21 million, InStyle is a market-leading fashion and beauty media brand—and 83 percent of print readers cite it as a source for shopping advice. Time Inc.’s strategic partnership with Keaton Row will offer many new opportunities for the brand to engage with consumers, as well as the ability to offer unique advertising products.
“Time Inc.’s fashion brands, such as InStyle and People StyleWatch, are resources our users are already engaged with and inspired by,” says Cheryl Han, CEO of Keaton Row. “We are excited to partner with Time Inc. and to create a seamless experience for our customers, connecting style inspiration with shopping choices. Our stylists will also benefit from the exciting training materials we will collaborate on to truly build our stylists’ expertise and elevate the level of service we provide our users.”
Since its launch in 2013, Keaton Row has focused on building a strong network of stylists and providing a platform and community to launch a successful styling business. With access to hundreds of top brands—through partnerships with online retailers such as Shopbop, ASOS, and Les Nouvelles—stylists have the ability to deliver the most personalized shopping recommendations to their clients. As a result, the company has assembled a community of over 2,000 active, experienced stylists who are able to service the 40,000+ clients registered with Keaton Row.
This round of funding will be used to optimize the Keaton Row experience for the on-the-go customer who is seeking more than just convenience when shopping. Service enhancements will include streamlining the client-stylist conversation, refining merchandise selection to address key shopping pain-points, and other features that enable stylists to build a modern wardrobe for their clients’ unique lifestyles. Meanwhile, Keaton Row stylists will continue to be equipped with the best fashion tools and training to service their clients with authority and expertise.
“We are committed to creating a service that builds upon the relationship our clients have with their stylists and to leveraging technology to create a seamless experience that gets better over time,” Han added.
ABOUT TIME INC.
Time Inc. (NYSE:TIME) is one of the world's leading media companies reaching more than 130 million consumers each month across multiple platforms. Its influential brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Food & Wine and Fortune, as well as more than 50 diverse titles at Time Inc. UK such as Decanter and Horse & Hound. Time Inc. is home to celebrated events and franchises including the Fortune 500, Time 100, People’s Sexiest Man Alive, Sports Illustrated’s Sportsman of the Year, the Food & Wine Classic in Aspen and the Essence Festival. As of September 30, 2014, Time Inc. operated approximately 40 websites that collectively have over 100 million average monthly unique visitors around the world. The company also operates integrated publishing businesses that provide content marketing, targeted advertising programs, branded book publishing and marketing and support services.
ABOUT KEATON ROW
Keaton Row, the Future of Personal Styling™, is the first online social commerce marketplace to connect personal stylists, clients and retailers. Co-Founders, friends and Harvard Business School Alumnae, Cheryl Han and Elenor Mak, launched Keaton Row in January 2013 to make the luxury and convenience of personal styling accessible to all women and to create an entrepreneurial opportunity for stylists by providing the community and tools to be successful. The company’s innovative online platform offers curated styles from hundreds of brands directly through online retail partners including Shopbop, ASOS and Les Nouvelles. Funded by Menlo Ventures, Rho Capital, Grape Arbor Venture and other visionary investors, Keaton Row is headquartered in New York with offices in San Francisco and Montréal.
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Time Inc. management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological, strategic and/or regulatory factors and other factors affecting the operation of Time Inc.’s businesses. More detailed information about these factors may be found in filings by Time Inc. with the Securities and Exchange Commission, including its Registration Statement on Form 10 and its most recent Quarterly Reports on Form 10-Q. Time Inc. is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
