August 20, 2009
Based in Atlanta, Georgia, 29 Luxury Goods, Inc. announced today that it had closed a $1.4 million round of funding with Williams Venture Partners, LLC leading the funding. Other investors who participated in this funding round are not disclosed to the public.
29 Luxury Goods is a company who is devoted to the sale and marketing of products in the cosmetics, beauty, luxury, and spa industries. Some of the merchandise that 29 Luxury Goods markets include a whole line of women’s cosmetic products that includes lipstick, eye shadow, and other face makeup. 29 Luxury Goods also markets anti-aging products, such as cremes, lotions, and moisturizers. 29 Luxury Goods advertises its goods to be ecologically friendly and do not contain any paraben or other chemical byproducts.
The CEO of 29 Luxury Goods, Lydia Mondavi, stated that since the company was launched, 29 Luxury Goods has experienced amazing sales growth and even in these difficult economic times, this growth does not seem to be slowing down. Ms. Mondavi further stated that since the company has closed this round of funding, it has been able to execute new opportunities and expand 29 Luxury Goods into new markets both domestically and internationally. Ms. Mondavi also stated that proceeds from this funding will allow the crew at 29 Luxury Goods to maximize brand presence and to develop new business strategies to expand the company’s marketing efforts.
According to the Managing General Partner of Williams Venture Partners, John A. Williams, Jr.; 29 Luxury Goods is showing the proof of concept and market penetration that Williams Venture Partners is looking for when investing in a company. Mr. Williams further stated that the current economic climate is filled with great opportunities. When fewer investors want to take a risk, companies that fit the criteria of Williams Venture Partners can yield good profits for both the company and its investors.
Williams Venture Partners is a vc firm that is opportunistic and will invest in those companies that have an innovative product that has the potential to generate great returns. Furthermore, the vc firm insures the success in its investors by actively participating in its portfolio companies. Williams Venture Partners’ investment strategy is to seek and identify companies that have low risk indications and strategic growth opportunities, providing high opportunities for the firm. Some other companies in Williams Venture Partners’ portfolio include Cocobonbons, Mythic Paints, Rent Bureau, and others.
For more information about 29 Luxury Goods, click here.