Wednesday, January 11, 2023

RETAIL NEWS

By Business Wire


Opens Its First Brick-and-Mortar Store in New York City, Expands New Round of Funding

Photo: Business Wire



The On-Trend and Ethically Sourced Clothing Brand Offers Sizes XXS to 6XL, Making it One of The Most Size-Inclusive Lines in North America


NEW YORK - WRAY, a Latinx-owned sustainable luxury fashion brand, today officially announced the opening of its first brick-and-mortar store in New York City as it continues to raise its first round of investment. The on-trend and ethically sourced clothing brand, which offers one of the most size-inclusive lines in North America, is focused on continuing their revenue growth trend for 2023 after scaling rapidly from $200K a year to $3M in less than three years.

The brick-and-mortar store, located at 38 Orchard Street in New York City, saw significant in-store revenue within the first two months of opening, exceeding expectations by 75%. Soon after opening, VOGUE named the store one of the "best places to buy plus-size clothing."

In the U.S., there continues to be a lack of accessible, on-trend and sustainably made clothing that serves the full-size range of customers, with its development seen as slow and too risky. However, approximately 67% of women wear a size 16 or larger and plus-size apparel continues to be one of the fastest-growing segments in the entire fashion industry, with an estimated market value of nearly $265B by 2027. WRAY has positioned itself as the leader and premier destination for size-inclusive and ethically-minded buyers.



WRAY's first brick-and-mortar store is located at 38 Orchard Street in New York City. (Photo: Business Wire)
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“As the child of Mexican immigrants, I’ve always felt a little bit different compared to my peers,” said Wray Serna. “That feeling of wanting to make something that made everyone feel special, yet safe is why I built WRAY. Our mission is to make fashion accessible for everyone of all sizes.”

WRAY’s designs are trendsetting, priced competitively and fit in with the contemporary market, including offering accessible luxury in sizes XXS-6XL. In addition to VOGUE, the brand has previously been featured in Forbes and Refinery29, and has garnered a cult following on Instagram and TikTok, receiving attention from prominent influencers such as Aidy Bryant and Hilary Duff.

WRAY is now raising funds from investors as it expands into new categories, including jewelry and home goods. Previous investors and advisors include the founder of ModCloth and the CFO of Mo√ęt Hennessy Louis Vuitton (LVMH), the CRO at Alexis Bittar and more.


About WRAY

Founded in 2015, WRAY is a New York-based, inclusive, fine art-inspired clothing line that creates on-trend, accessible, luxury fashion, matching Gen-Z values of sustainability and ethical sourcing. Wray Serna, WRAY’s CEO and founder, is the former co-founder and Chief Design Officer of Cloth, a VC-backed fashion tech company and app.


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