Why Foot Locker is backing Rockets of Awesome, a start-up disrupting the kids clothing market.
Rockets of Awesome, an online kids clothing store founded by serial entrepreneur Rachel Blumental, has wooed celebrity backers and capital from Foot Locker.In September it opened its first pop-up store in Manhattan, offering cool experiences for young shoppers.
"I've been able to build a network of really great people to surround myself with," says Blumenthal, Rockets of Awesome's CEO. "I've always believed in the importance of building relationships and valuing and respecting those relationships. I've also learned the lesson of getting warm introductions to investors and making sure that there are aligned interests or at least something in common.
Blumenthal leveraged those relationships, and others she established through her earlier ventures, to raise money from companies like General Catalyst, Forerunner Ventures, August Capital and Foot Locker. To date, she has raised about $49 million, with Foot Locker reportedly taking a $12.5 million minority investment back in February for Rockets of Awesome's $19.5 million Series C capital raise.
"As part of our mission to inspire and empower kids and parents alike, we are investing in new and innovative companies like Rockets of Awesome that elevate the customer journey through inspired storytelling and unique experiences both on- and offline," says Scott Martin, senior vice president and chief strategy and development officer at. "From subscription models to their latest NYC pop-up, Rachel and her team are driving value for customers in every way.
Rockets of Awesome's founder and CEO Rachel Blumenthal is head over heels about her new pop-up store in Manhattan, a 2,500-sq.-ft. space designed to engage kids while their mothers shop."The data we collect enables us to deliver the most personalized experience and most precise products that we're putting in customers' home and that they are seeing on our site, in our emails, in our store," Blumenthal says.
Although the company doesn't share financials, its growth over the past three years is evident in the line of items offered through the three consumer channels: 200 items, for boys and girls, each season, with the iconic Rockets of Awesome bomber jacket now available in 10 colors and fabrics."The introduction of the new channel is representative of our success and the growth of the business," Blumenthal says of the pop-up store.
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