Le Tote

Le Tote

Le Tote is a company providing an online fashion subscription service. It delivers rental fashion directly to clients' doors.

Le Tote is a clothing rental platform for women. The company was founded in 2012 by Brett Northart and Rakesh Tondon. Le Tote is headquartered in San Francisco, California, United States. The company participated in the YC S13 cohort of Y Combinator.

Service

Le Tote offers its customers the ability to rent a number of fashion items, both clothing, and accessories. These items are sent to the customers by mail, according to the items choices that they have decided on beforehand. Le Tote operates on a subscription model paid per month, where each customer has the ability to receive at minimum, one mail package of clothing each month – called a tote. Le Tote also provides maternity clothes, with different prices. Customers are able to purchase items that they rented at discounted prices. Clothes are returned to Le Tote by mail each month before a new tote is sent to the customer.

Funding

Since 2013, Le Tote has received capital from five funding rounds, with its most recent being a Series C. This round was held on November 2017. Through these rounds, Le Tote has amassed $62.5 million in funds. Past investors who have financed Le Tote were Sway Ventures, Azure Capital Partners, Daniel Curran, and FundersClub.

Timeline

August 28, 2019

Le Tote to acquire Lord & Taylor

People

Name
Role
LinkedIn

Abuzar Amini

Founder

Aimee Escobar

Employee

Alena Le Blanc

Employee

Alex Masoud

Employee

Allison Hughes

Employee

Anand Swaminathan

Investor

Andrew Vy

Employee

Anthony Saleh

Investor

Ash Hogan

Employee

Ayanna Alleyne

Employee

Ben Lerer

Investor

Ben Uchimura

Employee

Bill Malloy

Board member

Bitta Sharma

Attorney

Boris Silver

Investor

Brett Northart

Founder

Brian C. Patterson

Attorney

Briana Okyere

Employee

Brion Lau

Investor

Bryn Newman

Employee

Carly Olson

Employee

Charles Smith

Investor

Charlie Bowman

Employee

Chee Keong Ng

Investor

Chelsea LaSalle

Employee

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Further reading

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Documentaries, videos and podcasts

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Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Tanya Dua
November 26, 2019
Business Insider
Le Tote will bring digital expertise while Lord & Taylor has physical retail experience, Brett Northart said.
Bloomberg News
August 28, 2019
Financial Post
A Lord & Taylor department store in New York City.Cindy Ord/Getty Images for Lord & Taylor files
Jessica DiNapoli
August 28, 2019
U.S.
Hudson's Bay Co said on Wednesday it would sell its Lord + Taylor department store business to fashion rental service company Le Tote Inc for about $100 million, as the retail operator culls its portfolio to a few key brands.

References

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