AUrate, a New York based direct-to-consumer fine jewelry brand, plans to use part of the $13 million that it recently raised to build a brick-and-mortar presence.
The company is opening two permanent stores in New York City, Women’s Wear Daily reports. They’ll be located in SoHo and on Madison Avenue.
They’ll “feature experiential technology that introduces consumers to the raw materials and production methods enlisted to create Aurate jewelry,” according to the report.
They were set to open Oct. 12.
AUrate announced in late June that it had completed a $13 million investment round. With the Series A funding, led by Michael Platt of BlueCrest Capital, the company said it planned to expand its online and offline operations and direct investment in technology. Additional participants included Point King Capital, Arab Angel Fund and Drake Management.
AUrate soft-launched in 2015, when co-founders Bouchra Ezzahraoui and Sophie Kahn held full-time jobs at Goldman Sachs & Marc Jacobs, respectively.
The brand was officially launched in 2017, with both online and offline stores. The co-founders went on to raise $2.6M in a seed round.
Read more at Women’s Wear Daily