London fashion brand secures multi-million dollar seed round

Fashion brand HEAT has closed a multi-million dollar seed round with investors including global venture capital investor Antler, LVMH Luxury Ventures, and several angel investors.

HEAT was founded on an understanding that the fashion industry needs sustainable innovation. Ready to be part of the solution, HEAT introduced the #HEATBOX, the world’s first luxury fashion mystery box.

HEAT has partnered with more than 60 luxury brands who share its vision for a sustainable, eco-friendly future including Off-White, Palm Angels, Amiri, Billionaire Boys Club and Casablanca.

This disruptive model solves a problem for brands. Luxury brands are able to sustainably offload and monetise their surplus inventory in a way that protects brand values, by avoiding discounting, outlets, clearance or landfill.

Customers are provided with access to stock not often discounted, via a new, engaging and immersive way of shopping – mystery box via exclusive monthly drops that are ‘hyped’ beforehand online. The online monthly “drops” allow customers to buy the boxes on a first come first served basis.

Joe Wilkinson, CEO of HEAT says, “HEAT is disrupting traditional luxury fashion retail and at the forefront of next generation routes to market for a Gen-Z audience.

“This investment enables us to enhance the HEAT experience for our growing community through the creation of innovative and immersive e-commerce experiences – implementing gamification, AI-driven personalisation and interactive drops, all whilst continuing to drive sustainability.

“It will enable us to bring HEAT to more customers, expanding our presence in key international markets. We have created a shopping platform for a digital generation and are positioned to continue to innovate and make an impact in this space.”

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