Refinery29, currently a local news site for New York fashion, has raised money so it can expand into three more cities this year. TechCrunch, which calls Refinery29 “DailyCandy meets Style.com” reports the site is also going to use the money to build an e-commerce offering to sell some of the fashions it reports on. According to TC, the site is off to a busy start:
Refinery29 has been offering analysis and coverage of New York Fashion Week, breaking out the hot trends from the various shows. Plus, the site offers advice on where to find the best deals; featuring news of local and online sample sales, and special offers. Refinery29, which currently has a local site for New York fashion, also holds its own “sample sales” in the particular city to feature collections of local designers and boutiques that are marked down by often 50 to 60 percent.
TC also reports the site pulled in $1.4 million in revenue in 2009. The new funding is “a ‘sub $1 million round’ from a pool of angel investors.” Refinery29 will next appear in Los Angeles, Chicago and San Francisco.
