Retail Dive: Marketplace for Direct-to-Consumer Brands, The Fascination, Raises $1M in Seed Funding
Posted on May 30th 2021, 8:23:29 pm
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Founded by direct-to-consumer (DTC) mattress brand Lessa’s owners, David Wolfe and Matt Hayes, The Fascination, a marketplace for DTC brands, has just raised $1 million to design and develop the platform. Taking part in this seed round include 20 founders and CEOs of digital businesses.
Since its launch in late 2020, The Fascination has featured Allbirds, Warby Parker, Brooklinen, and a diverse range of other emerging DTC brands. To date, it features over 150 DTC brands on its platform.
The mission of The Fascination is to help shoppers find quality products. This is done by offering them thorough product reviews and news; as well as suggestions of new brands and best-selling products. CEO David Wolfe dislikes the practice of Amazon of “commoditizing products by offering cheap look-alike alternatives alongside premium products.” That is why The Fascination took on another approach:
“Our brand partners have really embraced us because they love being sold alongside brands they admire in other categories,” The Fascination’s co-founder and Chief Operating Officer Matt Hayes stated.
DTC brands are emerging and always on the look-out for more distribution channels. Apart from looking towards online marketplaces like The Fascination, many brands have developed their own platforms. Some others made deals with traditional retailers such as Walmart, Target, and Nordstrom.