Earlier this year, I wrote an in-depth story about the online underwear market, documenting how brands like Lively are taking on the giants of the industry—Victoria's Secret and Hanes—with high-tech products and less sex-heavy marketing.
This week, a direct-to-consumer brand started by a former Victoria's Secret exec, Michelle Grant, just landed $4 million in seed funding. One investor in this round was Leandra Medine, founder of the website Man Repeller.
This brings Lively's total funding to date to $5.5 million, which is still small change in the $13 billion intimates industry. Victoria's Secret brings in upwards of $1 billion in revenues annually, although the brand's sales have slowed this year and it recently slashed 200 jobs. Lively is arming itself for the fight ahead.