We may focus on womenswear at Fashionista, but sometimes the dudes deserve a shoutout, too. In this case, that would be the online-first menswear brand Frank & Oak, which has closed a Series B funding round of $15 million led by Goodwater Capital. And it's not only tech-focused venture capitalists that have taken an interest in the company this time around: Lululemon CFO John Currie is among its backers, while former Tommy Hilfiger CEO Howard Starr has decided to join the board.
The investment is a vote of confidence in the Canadian startup's place in the growing mid-price, fashion-conscious menswear market. Nordstrom recently shelled out $350 million to acquire Trunk Club, a personal styling service for men hoping to up their sartorial game. Bonobos, one of the first direct-to-consumer brands marketing itself as a wardrobe-improvement tool for guys, recently added another $55 million to its already considerable funding, bringing its total backing to $127 million.
In some ways, Frank & Oak plays the fashion card more prominently than some of its competitors, rolling out new capsule collections every month rather than subscribing to a seasonless model. So much so that the brand is holding a New York Fashion Week presentation on September 7 — its third, in fact.