Downtown Los Angeles-based vintage fashions firm Nasty Gal has raised $40M in a funding round, from sole investor Index Ventures, the firm disclosed over the weekend. Founded in 2006, Nasty Gal has experienced explosive growth as they specialize in one-of-a-kind true vintage pieces as well as new clothing, shoes and accessories from independent designers from around the world.
According to Forbes, the company, headed by Sophia Amoruso, is set to hit $128M in sales this year, quadrupling it revenues from last year. Nasty Gal is coming off of a $9M round in March as well.
A hot, venture funded company like Nasty Gal provides Downtown Los Angeles with a good start in attracting technology and creative tenants, furthering the renaiassance already deeply underway. Nasty Gal's presence will help persuade other similar tenants of the benefits of moving Downtown, pushing the market further along the improvement curve.
*Shared by Ted Simpson, Scott Steuber & Jeff Vertun