The brand messaging platform will put its latest investment toward expanding its product, sales and customer support teams and to opening a new office to service the Europe, Asia and Middle East markets.
The teen specialty retailer formed a new Board of Directors that includes executives with previous tenures at Uniqlo, Wal-Mart and Forever 21. Rue21 also appointed Dr. Mark Chrystal as Chief Analytics Officer.
Hong Kong-based garment supplier Crystal International's IPO has attracted investment from fashion giants including Uniqlo's parent company Fast Retailing Co. and Victoria's Secret's parent company L Brands Inc.
In the wake of revelations about disgraced Hollywood producer Harvey Weinstein, American model Cameron Russell took to Instagram to share her followers' experiences of sexual abuse in the fashion industry.
Neiman Marcus said on Tuesday it continued to see sales fall for another straight quarter and is now betting on digital for a turnaround. Total revenue for the fiscal year was $4.71 billion, down 5.2 percent.