DAVIDsTEA Receives CAD$14M Minority Investment Led by the Highland Consumer Fund
Summary
DAVIDsTEA, a Montreal, Quebec, Canada-based retailer of loose leaf teas, has received a CAD$14m minority investment.The round was led by the Highland Consumer Fund, with participation from Chip Wilson, the founder & former CEO of Lululemon Athletica.Founded by Herschel and David Segal in 2008, DAVIDsTEA has grown from one store in downtown Toronto to more than 75 retail outlets across North America, with 2 stores in New York City.The company intends to use the proceeds from the investment to continue to help fuel the growth of retail operations across North America.In addition, Chip Wilson and Tom Stemberg, Managing General Partner at Highland and founder and former CEO of Staples, will also be joining the Board of Directors.
Funding
Amount
$14.0M
Total raised
Date
April 11, 2012
Announcement date
Investors
Summer@Highland
Lead investors
Company
http://www.davidstea.com
Funded company
Classifications
industries
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applications
Engineering & Scientific
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