b8ta announces acquisition of Re:store, a US-based start-up that brings retail-as-a-service to online fashion brands at Maiden Lane shopping centre in San Francisco.
Thus, the company makes its bold foray into fashion & lifestyle as the industry looks for innovation.
Re:store, founded by Selene Cruz in 2019, has become a go-to experiential retail partner for Instagram famous brands like Sezane, H&M’s & Other Stories and Nasty Gal, amongst others.
The start-up offers retail-as-a-service technology allowing stores and brands manage their merchandising, buying and logistics from one dashboard.
The acquisition involved mixed offering of cash, equity and contingent consideration.
Re:store still holds the licensing rights and all the business dealing have been handed off to b8ta.
B8ta, in 2019, launched its Forum concept to expand beyond electronics and into fashion and lifestyle retail.
Part of the acquisition, the company will be rebranding Re:store’s Maiden Lane business within the Forum platform thus allowing the partnered brand of Re:store to expand to West Hollywood, New York City’s Hudson Yards and other future locations, while the Re:store’s brand partners will also get access to B8ta’s online marketplace.
The start-up raised US $ 1.7 million in pre-seed funding led by Sequoia and SPC, one of the few Latinas raising venture funding in the Valley.
