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STREET STYLE: Peaches Looks to New Capital to Support Growth

LOS ANGELES — A car buff and restaurateur have entered the streetwear fray with an interesting proposition, creating an urban label inspired by car culture.
Peaches, which has one foot in South Korea and another in Los Angeles, last year raised about $550,000 through angel investors and is in the midst of raising its Series A, expected to close this month and land somewhere in the range of $1.5 million to $3 million. The capital infusion will be used to open a store on Fairfax Avenue as early as the end of this year at the site of a former gas station, which will be incorporated into the overall design of the space. There will also be a car warehouse in Orange County opening this year that would serve as a hangout of sorts for the core car consumer to come in and check out the cars being built.
The company is currently direct-to-consumer online, but will eventually expand into wholesale with higher-end boutiques.
Pop-ups to test into the South Korean and U.K. markets are also slated for this year.
The slated retail and warehouse openings speak to the duality of the Peaches brand.
“Opening the store on Fairfax, that’s a very street fashion and

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Via:: https://wwd.com/menswear-news/mens-designer-luxury/peaches-looks-to-series-a-to-support-growth-1203089373/