Sole Society announced it has received $8 million in Series B funding from Nordstrom and Insight Venture Partners. The footwear and accessories brand, which began online in 2011, has also put in place a new executive team to support operations and expand its retail and e-commerce distribution.
The company’s previous COO and newly appointed CEO Andy Solomon will lead the growth for the brand. Solomon was a founding member of Sole Society and has worked to expand the brand’s distribution beyond direct-to-consumer with retailers like Nordstrom and QVC.
In a release, Solomon said, “We believe there is a significant white space in the market for the Sole Society product. Our customers are looking for high-quality, on-trend, but not overly trendy footwear, handbags and accessories at a fantastic value.” He added, “This funding, along with our new leadership team, positions our brand for healthy growth over the next 12-to-18 months and beyond.”
In addition to Solomon’s new role, the executive board will add two new members. Louisa Chen joins Sole Society as CFO, with 10 years of experience in investment banking and financial leadership at Guggenheim, Barclays and Lehman Brothers. Marly Dreis joins as the vice president of marketing. Dreis has previously worked for Kenneth Cole, Calvin Klein and Armani Exchange, and most recently served as brand strategy director at Nordstrom.