{"id":193231,"date":"2022-01-17T15:40:20","date_gmt":"2022-01-17T15:40:20","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=193231"},"modified":"2022-01-17T18:31:11","modified_gmt":"2022-01-17T18:31:11","slug":"streetwear-mystery-box-start-up-heat-secures-5m-funding-from-antler-and-lvmh-luxury-ventures","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/streetwear-mystery-box-start-up-heat-secures-5m-funding-from-antler-and-lvmh-luxury-ventures\/","title":{"rendered":"Streetwear mystery box start-up HEAT secures $5m funding from Antler and LVMH Luxury Ventures"},"content":{"rendered":"
Luxury streetwear mystery box start-up HEAT has announced it has received a $5m investment from venture capital firm Antler and LVMH Luxury Ventures, which will see the brand grow and implement gamification, AI-driven personalisation and interactive drops.<\/strong><\/p>\n HEAT was founded in late 2019 by Joe Wilkinson and Mario Maher with a mission to deliver sustainable innovation in the fashion industry. Ready to be part of the solution, HEAT introduced the #HEATBOX, the world's first luxury fashion mystery box.<\/p>\n The new company was soon connecting shoppers globally with big brands, and HEAT has already partnered with 60-plus of the world\u2019s leading luxury brands who share its vision for a sustainable, eco-friendly future including Off-White, Palm Angels, Amiri, Billionaire Boys Club and Casablanca.<\/p>\n Customers are provided with access to stock that is not often discounted, via a new, engaging and immersive way of shopping - mystery boxes through exclusive monthly drops that are \u2018hyped\u2019 beforehand online. The online monthly drops allow customers to buy the boxes on a first come first served basis, with boxes often selling out within minutes of going live. Shoppers also become part of the HEAT community, which provides style validation and discovery.<\/p>\n HEAT currently hosts an active 600,000-plus Gen-Z community and, since launch, HEAT has sold over 20,000 luxury mystery boxes, and more than 100,000 individual units of stock.<\/p>\n Joe Wilkinson, CEO of HEAT said: \u201cHEAT is here to disrupt the traditional approach to luxury fashion. We\u2019ll be using this investment to create innovative and immersive e-commerce experiences \u2013 implementing gamification, AI-driven personalisation, and interactive drops - all whilst driving sustainability. HEAT has created a shopping platform for a digital generation, and we are positioned to make an impact in this space.\u201d<\/p>\n Martell Hardenberg, Partner at Antler, added: \u201cWe are sitting on one of the greatest opportunities in luxury retail with consumer behaviour changing dramatically over the coming years. HEAT has created a unique platform for consumers and brands alike to create a new shopping and selling experience, while protecting brand integrity. We are excited to back Joe and Mario's vision of driving luxury fashion towards more innovation and sustainability.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":39,"featured_media":193235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,20821,6,12973,10497],"tags":[22494,11222,17146,15223,20664,10127,22493,22546,22547],"acf":[],"yoast_head":"\n