Archetype Closes $6.25 Million Round of Financing Led by Carlyle Venture Partners.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Nov. 27, 2001 Archetype archetype (är`kĭtīp') [Gr. arch=first, typos=mold], term whose earlier meaning, "original model," or "prototype," has been enlarged by C. G. Jung and by several contemporary literary critics. , the leading provider of mass customization technology and services for the apparel industry, today announced it closed a $6.25 million Series B round of financing. The round was led by Carlyle Venture Partners with participation from strategic investors, Series A investors, and new individual investors. This follows a $1.5 million Series A round of financing that closed in 2000. "This investment builds on the success of the last nine months and ensures the resources are in place for the growth of our business with existing and new customers," said Robert Holloway, Archetype's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "In this difficult environment this represents a major endorsement of our technology and management team." The team at Archetype began development of their mass customization technology nearly two years ago and consumer tests have repeatedly demonstrated the positive impact of a customized garment on fit preference, the purchase process and garment returns. Lands' End
See: New York Stock Exchange :LE), which recently launched Archetype's service and is the Company's first customer, has achieved similar positive results. Lands' End is initially offering customized Chinos chi·no n. pl. chi·nos 1. A coarse twilled cotton fabric used for uniforms and sometimes work or sports clothes. 2. Trousers made of a coarse twilled cotton. Often used in the plural. for men and women and soon to be followed by jeans and other product categories. Archetype provides a complete solution for mass customization. The Company's proprietary sizing and body prediction software, developed over the past 18 months, creates unique patterns for each consumer. The pattern is sent digitally to licensed manufacturers in Mexico. Newly developed manufacturing, scheduling, QA, and logistics processes manage cost effective, high quality production. "We are very pleased to lead this financing round for Archetype. Mass customization is one of the holy grails of the apparel industry. Rob and his team are apparel industry veterans, and have tackled the scale, cost, choice, and convenience issues very creatively. By eliminating the need for consumer measurement and enabling low cost production of customized garments, they are poised to revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. both the customer experience and the economics of most staple apparel categories," said Allan C. Thygesen, Managing Director, Carlyle Venture Partners. About Archetype Archetype, headquartered in the Bay Area, is a technology company offering apparel retailers an end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. for mass customization. Using Archetype's proprietary technology, retailers are offering affordable custom-made casual clothing to their consumers. The service provides the end consumer with a superior product and apparel retailers with a profitable and innovative addition to their total offering that addresses inventory, returns and markdowns. About Carlyle Venture Partners Carlyle Venture Partners is a venture capital fund focused on early stage investments in communications and Internet-related infrastructure and applications. Carlyle Venture Partners is affiliated with The Carlyle Group  The of this article or section may be compromised by "weasel words".You can help Wikipedia by removing weasel words. The Carlyle Group is a Washington, D.C. , a global private equity firm with more than $12.5 billion under management, and 515 employees in 24 offices in 13 countries around the world. Carlyle Venture Partners has offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden ; Tysons Corner, Va.; and Washington, D.C. |
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