Online bags start-up Oliver Cabell raises 1.2 million to launch shoe line
By Angela Gonzalez-Rodriguez
Oct. 23, 2017
The Minneapolis-based start-up selling bags and other accessories, has announced it just raised 1.2 million dollars to enter the shoe business with a sneakers collection.
With the new cash, raised from an undisclosed angel investor, the company is also experimenting with a pretty ambitious business model, according to chief executive and founder Scott Gabrielson, reports ‘TechCrunch’.
Oliver Cabell’s new line of sneakers will include a limited edition Playboy-branded shoes, according to ‘The New York Post”.
Gabrielson said the company will be releasing a new shoe each week. “By creating weekly drops we are able to provide constant work through traditionally slow periods of the year, which allows us to negotiate better terms (i.e. minimums, turnaround times, etc.) and produce in this fairly atypical manner,” Gabrielson explained to the technology publication.
The push into footwear is part of a broader vision of a new kind of clothing company, which leverages a faster pace of production “to be more creative with silhouettes and materials.”