Cimpress makes majority equity investment in VIDA & Co.
Cimpress is excited to announce that it has welcomed VIDA & Co. to its portfolio. VIDA offers original, high-quality apparel, accessories and home decor products, designed by artists and designers around the world, produced on-demand at scale.
We have made a majority equity investment in the San Francisco-based company for $29 million, but like all of the businesses in the Cimpress portfolio, VIDA will remain autonomous while gaining access to the shared strategic capabilities of Cimpress, such as technology and procurement.
“We are investing in VIDA because of its innovative and fast‐moving approach to disrupting the large market for retail‐grade consumer products via mass customization,” said Robert Keane, Cimpress Founder and CEO. “VIDA Founder and CEO Umaimah Mendhro and her executive team are experienced and focused entrepreneurs, who will remain co-owners in the business and continue to build VIDA for the long term. VIDA pushes the boundaries of where Cimpress has historically operated and thus opens the door for us to expand our mass customization efforts into new and different markets.
A curator of creative voices, VIDA showcases designs from New York to LA, Mumbai to Madrid, and Tokyo to Tel Aviv. The company has over 100,000 designers from 150 countries around the world and has partnered with iconic brands and personalities including the Museum of Modern Art, Cher, Steve Madden, and the Golden Globes. The company’s global supply-chain produces mass-customized items ranging from custom-printed cashmere scarves to 3D printed jewelry. Each of VIDA’s products is produced on-demand and has a unique story, from the inspiration behind its design to the personal, poignant stories of the artists and the makers. Moreover, for every product made, VIDA offers education and empowerment programs for its factory workers, to help them and their families.
The company recently inked a special collaboration with Lord & Taylor to launch an art-inspired accessories and home collection featuring VIDA artists from around the world. The collection will be available exclusively at Lord & Taylor and showcase custom-made pieces of wearable art, each with a unique story, supporting the company’s social impact programs.
“We are thrilled to find in Cimpress a visionary partner that we feel a deep alignment with, in terms of philosophy and values as well as our strategic vision for the business,” said Mendhro. “We believe the traditional retail industry, where a group of buyers predict demand and build inventory before any sales are materialized, is broken. With the innovations in rapid manufacturing and mass customization, a growing global creative community, and clear demand from consumers for unique products that are made in a responsible way, VIDA is in a unique position to partner with Cimpress and benefit from its technology and mass-customization infrastructure to build the retail of the future.”
Cimpress’ investment in VIDA is aligned with our strategy to invest in and build customer-focused, entrepreneurial, mass customization businesses for the long term.