NEW YORK-(BUSINESS WIRE)–WRAY, the Latinx-owned sustainable luxury fashion brand, today officially announced the opening of its first brick-and-mortar store in New York as it continues to raise its first round of investment. The trendy, ethically sourced apparel brand, which offers one of the largest plus-size lines in North America, is focused on continuing its revenue growth trend for 2023 after rapidly growing from $200K annually to $3M in less than three years .
The brick-and-mortar store, located at 38 Orchard Street in New York City, generated significant in-store revenue within the first two months of opening, exceeding expectations by 75%. Shortly after opening, VOGUE called the store one of the “best places to buy plus size clothing.”
In the US, there is still a lack of affordable, trendy and sustainably made clothing that serves a wide range of customers, and its development is seen as slow and too risky. However, approximately 67% of women wear a size 16 or larger, and plus-size clothing continues to be one of the fastest-growing segments in the entire fashion industry, with an estimated market value of nearly $265 billion by 2027. WRAY has positioned itself as a leading and premium destination for customers that include size and ethically oriented customers.
“As a child of Mexican immigrants, I always felt a little different from my peers,” Wray Serna said. “That feeling of wanting to make something that will make everyone feel special, and yet certainly is why I made WRAY. Our mission is to make fashion accessible to everyone of all sizes.”
WRAY’s designs set trends, are competitively priced and fit the contemporary market, including offering affordable luxury in sizes XXS-6XL. Besides that VOGUEthe brand was already featured in Forbes and Refinery29and has amassed a cult following on Instagram and TikTok, attracting the attention of 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 ModCloth founder and CFO of Moët Hennessy Louis Vuitton (LVMH), CRO at Alexis Bittar and more.
Founded in 2015, WRAY is an inclusive, fine art-inspired clothing line based in New York City that creates on-trend, affordable, luxury fashion that resonates with Gen-Z values of sustainability and ethical sourcing. Wray Serna, CEO and founder of WRAY, is the former co-founder and COO of Cloth, a VC-backed fashion technology company and app.