USA: 7thOnline Raises $5 Million
Business-to-business fashion marketplace 7thOnline Inc has raised $5 million in financing and named Lousie Chazen as president.
The exchange, which went live in November 1999, plans to use the funds to continue to develop its technology applications and increase sales and marketing. The company also says it will use some of the money to expand its staff.
7thOnline provides technology and services to streamline the retail buying process, and offers significant time and cost savings to both retailers and vendors.
Vendors wishing to sell through the site pay a fee to create secure online product showrooms and approve retailers to access those showrooms to shop and plan assortments. Access is free to retailers who can browse the eShowrooms, place orders, recreate floor plans online and display product images on store fixtures.
Louise Chazen brings to 7thOnline over 20 years of merchandising experience at the country's top retailers. Her expertise extends to all areas of women's wear - from sportswear to footwear to swimwear. Most recently, she spent five years as vice president of merchandising at Victoria's Secret, a division of The Limited Inc, where she was instrumental in coordinating the overall branding for the company's three distribution channels (catalogue, retail, and internet).
Prior to Victoria's Secret, Ms Chazen spent 13 years at Saks Fifth Avenue, eight of which were spent as vice president, divisional merchandising manager for several divisions, including coats and dresses.
Companies: Saks Incorporated
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