Latina Fashion Design Systems (LFS), the world’s largest Latina design agency, announced on Monday that it has raised $2.9 million in Series A funding from investors including BizVest Ventures and Vornado Realty Trust.
The company, which has been based in Los Angeles since 2009, has since partnered with some of the world`s leading fashion brands such as H&M and Louis Vuitton to launch fashion line in the US, India and China.
“This round marks a major milestone in our evolution and the launch of our first-ever global collection,” said the agency`s CEO and founder, Claudia Ruiz.
“The partnership with Biz Vest and VORNADO was a natural fit as it was a platform to leverage the company`s expertise and experience to develop a range of new products for our global clientele.”
The company has since expanded its products range to include a line of handbags and accessories that have gone on sale.
The funding round was led by Biz Ventures and the VC group Vornada.
“I am proud of LFS for building on our foundation of proven expertise in the industry, and the company is now on the cutting edge of fashion design,” said Ruiz, who is also co-founder of QVC fashion and lifestyle channel.
“We`ve been in the design business for over five years and have built a strong network of designers and designers have a tremendous influence on our designs.
This funding will help us expand our capabilities to build our brands, including in the beauty space.”
In the past three years, LFS has raised around $2m in Series B financing, according to LFS CEO and co-founders Claudia Ruz and Maria E. Rivera.
LFS was founded in 2013 by Ruiz and Ruiz` husband, Antonio, with the intention of creating high-end fashion in Latin America and Europe.
LAFS launched its line of luxury products in October 2016 with the release of the B&F collection.
“Latinas are our next generation of designers,” Ruiz said.
“Our aim is to inspire them to take more risks, to do more, to be bolder, to challenge the status quo.
We are going to continue to push forward and innovate, as well as build new products and services to meet our global clients` needs.”