Ayr, the denim-based womenswear brand incubated by Bonobos, closed its first round of fundraising after spinning out from Bonobos to form Ayr Inc. on March 1.
Ayr Co-Founder and CEO Maggie Winter said that after seeing triple-digit-growth year over year, the brand felt the time was right to capitalize on its rapid growth trajectory. She said, “We’re excited to focus on scaling the business with a select group of angel investors and advisors who love our brand and understand the future of retail.”
Zandy Reich is a new addition to the founding team, appointed as president of Ayr. Reich was formerly the head of business strategy and development at Theory. Other advisors and investors for Ayr are Leandra Medine of the ManRepeller, Scott Morrison of 3×1, Andy Dunn of Bonobos, and Hayley Barna, venture partner at First Round and co-founder of Birchbox.
Barna said, “As a female tech executive I’m caught between the world of hoodies and power suits. AYR has created a brand that solves the what-to-wear problem for the creative professional woman. I’m excited to make a personal investment in AYR because I believe in the vision, the team and the product.”
Ayr plans to unveil the brand’s new downtown offices in New York City in early spring 2016. Ayr will continue its partnerships with Nordstrom, Shopbop, Goop and Postmates.