The women’s clothing retailer Lauren James is about to need a larger size.
Lauren James Enterprises Inc. of Fayetteville recently raised $1.16 million in a stock offering, according to its filing with the U.S. Securities & Exchange Commission.
Lance Stokes, Lauren James chief operating officer and one of this year’s 20 In Their 20s, said the money would be used for the company’s core leadership team and to pay for inventory and operations.
Lauren James, which sells everything from T-shirts to bridesmaid dresses, also will be focused on its line of college-licensed products.
Stokes works with his wife, Lauren Stokes, who founded the company in 2013. Lance Stokes said the company now has more than 50 licenses with universities across the country. In May, it had about half of that number.
“We’re starting to expand outside of the South,” he said. The schools that Lauren James recently added licenses with include the University of Pennsylvania and Michigan State University.
Stokes said many of the schools are in areas where the company hasn’t had a presence.
Lauren James sells its clothes online and through retailers and has a staff of 105 employees. It also has three of its own stores in Fayetteville and in Plano and Southlake, Texas. More locations could be added at the end of 2018 or in 2019.
Stokes told Arkansas Business in May that the company had more than $10 million in revenue in 2016. Stokes declined to give 2017 revenue projections. He expects, though, to see a 40 percent increase in sales in 2018 compared with 2017.
Sign up for Daily E-news
