Allyson Felix’s Saysh is becoming hot in the footwear market.
According to Footwear News, the Olympian and her brother and co-founder Wes Felix announced on June 16 that their brand closed an $8 million Series A round.
Details On The Funding Round
As previously shared by AfroTech, the round was led by Iris Ventures along with participation from Redpoint Ventures. Until recently, the terms of the deal weren’t revealed.
Per Footwear News, Gap Inc. -owned Athleta and Springbank Collective were also a part of the raise. Additionally, Gap Inc. acquired an equity stake in Saysh and Athleta became a partner to display Saysh’s shoes on its website. It’s a full-circle moment as Felix became the brand’s first athlete partner in 2019.
By Women, For Women
The $8 million in funding is going toward Saysh’s “sneaker and footwear collections, which are made specifically for female feet.” Also, it will help “scale its own e-commerce and wholesale distribution.” The by women, for women brand, is also looking to expand into more than only sneakers.
“We’re going to look at brand-building, and how we can let women know that we’re building a company, a brand that’s really for them. Our overarching goal is to make sure that we’re building a better future for women,” Wes Felix said.
He continued: “We’ll be building our team in a thoughtful way, looking at research and development, and making sure that we’re really creating products that are made specifically for women’s bodies. Right now, in the industry, that’s just not how it’s done.”
The Start Of It All
Following her departure from Nike, Felix bossed up and created her own lane by launching her own shoe brand. It was a big flex when she rocked them during the 2021 Olympics.
“I did have a little moment. When I crossed the finish line and I looked down at my spikes. These beautiful handcrafted Saysh spikes. And I was like, ‘I did this in my own shoes,’” Felix shared in a fireside chat earlier this year.