THROUGH ITS GROWING COMMUNITY AND SUPPORT FROM GALLIOTT CAPITAL, OLIVELA FUNDS 1MM+ DAYS OF SCHOOL FOR GIRLS
Executive Summary:
- OLIVELA is a force for change in a rapidly evolving retail environment by leading with mission (20% of net proceeds from every purchase fund gender equality) and its innovative dropship model which minimizes inventory risk
- Galliott Capital Advisors takes a stake in OLIVELA to further support the platform’s growth plans which has already funded over 1MM days of school for girls
- OLIVELA celebrates Women’s History Month bringing together friends of the ecommerce site and cause partners with two events held in Miami and Palm Beach
NEW YORK, March 28, 2024 (GLOBE NEWSWIRE) -- Philanthropic retailer OLIVELA landed in Miami and Palm Beach last week to mark Women’s History Month and celebrate the work its community have funded towards gender equality. From a celebratory lunch to a panel talk discussing the intersection of girls’ education and climate action, OLIVELA brought together VIPs, cause partners and customers.
OLIVELA is uniquely positioned as a force for change in a challenging luxury retail landscape. Thanks to its dropship model which minimizes inventory risk, OLIVELA is able to remain resilient to evolving demand. A trusted curator of brands, OLIVELA now has over $535MM in available inventory, and bakes purpose into its core by donating 20% of net proceeds from every purchase to non-profits supporting gender equality across three pillars of education, climate action and health & wellness.
Stacey Boyd, Founder & CEO says: “I fundamentally believe that people want to do the right thing, and that's what we've seen in terms of OLIVELA's growth,” says Boyd. “The combination of buying something you love while also nudging the world a little is quite compelling.”
This ability to stay highly differentiated in a saturated market poses opportunity for investors. Aligned with their UHNW family clients’ ambitions to both invest and make an impact, Galliott Capital Advisors has taken a stake in OLIVELA. Says Antoine Souma, owner and managing partner of Galliott Capital, “We're approaching OLIVELA as an investment proposition, not as a charity, or donation, or a philanthropic project. [...] This is an investment that at the same time is going to contribute to the wellbeing of someone else other than you.”
This giveback was celebrated with two events in Florida, a region where OLIVELA is rapidly acquiring new VIPs, to celebrate women’s empowerment. Coinciding with Aspen Ideas Institute, OLIVELA hosted two events to discuss the intersection between climate action and gender equality. Bringing together inspiration, dynamic conversation and the local fashion community, Karolina Kurkova, Guerdy Abraira, Christa Allen, Lisa DiCicco Cahue and more attended a panel talk with Stacey Boyd (CEO and Founder, OLIVELA), Tina Tchen (Executive Vice President of Strategy and Impact for the Obama Foundation) and Jennifer Swandby (Manager of Species Partnerships for Re:wild).
The day after, OLIVELA joined forces with Modern Luxury in Palm Beach to host a women's empowerment luncheon, with proceeds from purchases made supporting the Girls Opportunity Alliance, a program of the Obama Foundation. Guests were invited to shop a curated edit of the site and heard about how each purchase funds girls' education, a concept that customers can explore on OLIVELA.com.
Since launch, OLIVELA has created a more conscious way of shopping by offering a curation of designer brands across fashion, beauty, and lifestyle, with a purpose driven mission at its core. OLIVELA’s unique retail concept donates 20 percent of net proceeds from all purchases, at no cost to customers or brands, to its non-profit partners. Proving that small actions can have a big impact, the OLIVELA community has now donated the equivalent of over 1 million days of school.
According to the Business of Fashion x McKinsey State of Fashion 2024 report, consumers are gravitating towards brands with the greatest differentiation and authentic stories. “Storytelling is really compelling and important,” says Boyd. “It's why with every product you see on OLIVELA's site, it's clear what exactly your purchase of that item will do. It'll be X number of days of school, it'll be X hours of species conservation. That specificity, transparency really, is important for the customer. Customers know exactly what good their purchase will do.”
MIAMI IMAGERY - https://bfa.com/events/44270/share/2a08513b251ea7
PALM BEACH IMAGERY- https://www.dropbox.com/scl/fo/nfdmojnnvwjim09kdc0jy/h?dl=0&rlkey=108w87ahzlacfu3rfzwrfkexi
About OLIVELA
OLIVELA is a luxury fashion e-commerce platform with purpose at its core. Offering a curation of the world’s best brands across fashion, beauty, and lifestyle, OLIVELA promotes positive change by donating 20% of net proceeds from every purchase to its cause partners, at no cost to consumers or brand partners. Empowering the customer to choose from over 25 global cause partners at checkout, purchases are translated into a tangible impact metric which customers can keep track of by visiting the ‘My Impact’ section in their account. With a unique mission to support gender equality, OLIVELA has grown to support non-profits across the pillars of Education, Health & Wellness, and Climate Action including Save the Children, CARE, SU2C, St. Jude Children’s Research Hospital, and Re:wild.
OLIVELA Founder and CEO Stacey Boyd started OLIVELA after a visit to one of the largest refugee camps with Malala Fund. The stories told of girls overcoming poverty and escaping war and forced marriages were unimaginable. That’s when the idea for OLIVELA (pronounced ah-li-VAY- lah) was born. A new kind of retailer with giving back built into every transaction. 20% of the net proceeds from every purchase at OLIVELA supports nonprofits —at zero extra cost to the customer.
Instagram - @olivela
www.olivela.com
For further information please contact:
Karlin Ready, Sr. Director of Brand & Communications
press@olivela.com
