From Home Furnishing Business
Sustainable Retailer Gets $20.5M Infusion
The money will be used to support the Bambeco’s continued expansion, broaden product offerings and expand distribution channels and partnerships.
As part of the funding deal, ABS Capital’s general partner Cal Wheaton will join Bambeco’s board of directors. Laurence Franklin, the former CEO of Tumi and Frette, former president of Coach, and who has served on the boards of a number of ABS Capital portfolio companies, will also join the board of directors.
“Our vision is to make sustainable living accessible and beautiful, and we know our products fill the needs of demanding consumers who want their homes to reflect both their style and values,” said Susan Aplin, Bambeco co-founder and CEO. “We believe ‘going-green’ isn’t a passing trend, but rather a conscious way of life millions of consumers are choosing. This investment from ABS Capital allows us to continue to expand our product selection and reach more customers to meet this growing demand.”
The Baltimore, Md.-based company’s products are currently available on its e-commerce website, partner websites such as MyHabit and One Kings Lane, and through its store-in-store retail partners such as Whole Foods, Total Wine, and J. Crew.
“Bambeco is leading the charge in the rapidly expanding, multi-billion dollar sustainable home goods and décor market,” Wheaton said. “We were attracted to the vision and passion, combined with the deep retail and brand experience of the management team—a combination which is rare at a younger growth company. The company’s multiple distribution channels provide attractive avenues for efficient expansion.”