Fresh funds for French rainwear Flotte
Founded in 2020 by Lyly Wu and Mickaël Pan, French rainwear brand Flotte has successfully closed a funding roung that has brought in €3 million. The young company made a splash in the market with its colourful genderless outerwear and has since diversified its offering to everyday wear.
In line with its generation, Flotte has chosen to use eco-responsible fabrics, including recycled yarns. Two years ago, it opened a first store in the trendy Marais quarter of Paris. The brand currently has some 500 vendors and operates an e-commerce site. Half of its revenues are generated by wholesale.
Belgian VC company Akiles and Time4, a division of Daphni, also a VC, financed this round, and the founders remain the largest stakeholders. They intend to use the funds to open stores in major French cities, continue to expand the product offering, and expand internationally. The company claims to be profitable since its launch.
Photo shows Paris boutique.
