EL SEGUNDO, Calif., Nov. 29, 2017 /PRNewswire/ — Jaanuu, the contemporary, runway-inspired medical apparel company that is disrupting the multi-billion-dollar medical apparel market, has finalized a new strategic investment round, Founder and CEO Shaan Sethi announced today. The additional financing will support significant growth plans for 2018, including expansion into new apparel categories and senior level staffing hires. The lifestyle brand was launched in 2013 by private equity investor Sethi together with his sister, Dr. Neela Sethi Young.
Jaanuu has assembled a stellar powerhouse group of fashion and tech savvy investors including Dan Nordstrom (former co-president of Nordstrom) and his Nordstrom family, Joel Spiegel, former VP of engineering for Amazon and creator of Amazon Marketplace, Georg Richter, former president and COO of Guthy-Renker, Gabriel Naouri, deputy head of international operations of Groupe Casino, Innovation Global Capital, Maywic Select Investments and others, some of whom served as early investors in the venture.
Introduced four years ago with its fresh vision of contemporary, fashionable scrubs, lab coats and footwear, Jaanuu has become the most successful and fastest growing direct-to-consumer brand in the medical apparel space. The company parlayed a modest capital investment into exponential growth by harnessing early feedback from loyal consumers via social media, input from medical colleagues nationwide, and a data-driven business model. The company’s robust growth metrics verify its success, with appx. 2500% revenue growth over the last two years, a $120 average order value (AOV) per customer, and strong repeat business, with 50% of its monthly orders emanating from existing customers.
“I’ve been impressed with how quickly Jaanuu has become the leader in this large and underserved apparel segment,” said Dan Nordstrom. “Over many decades in the business I’ve learned that customers quickly recognize and respond to superior quality and design. And it’s clear that today’s consumer is also looking for brands that align with their personal values. Jaanuu is delivering on all fronts.”
“It excites me to see a company like Jaanuu that is using technology to create an exceptional customer experience and product, especially for healthcare professionals who are passionate and deserving,” said Joel Spiegel.
“From day one, we have been focused on generating a venture-trajectory growth for Jaanuu, and the investor group in this capital round genuinely supports this strategic vision,” said Jaanuu CEO Shaan Sethi.