Leading women's apparel company, lucy opened 10 new stores, including its first East Coast locations; secured more than $20 million in series G financing; raised more than $16,000 to benefit breast cancer patients, and updated its online shopping experience.
"This has been a busy and exciting year for lucy," said Michael J. Edwards, President and CEO of lucy activewear inc. "Company had a number of significant accomplishments and look forward to continuing to increase lucy's presence nationwide in the coming year."
Opens 10 New Stores With a strong presence throughout the West Coast, 2005 was the year that lucy extended its reach to include locations in Denver, Chicago, McLean, Va. and Washington, D.C. Opening 10 stores in all, the other six locations strengthened lucy's existing presence in California, with three additional stores; in Washington state, with a store in Redmond; in Oregon, with a new store just south of Portland; and in Arizona, with a second store in Scottsdale.
Secures More Than $20 Million in Financing In July, lucy activewear closed a $20.3 million round of financing. Top-performing retailer Chico's FAS Inc joined existing investors Lone Pine Capital, Maveron LLC, Oak Investment Partners and Sutter Hill Ventures in the series G financing. Chico's purchased $10 million of the series G convertible preferred stock financing round and, in connection with this investment, secured a seat on the lucy board of directors.
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