Sea Star Beachwear
Water-friendly espadrilles with quick-drying neoprene uppers.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| N/A | $1.3m | Seed | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 20 % | 33 % |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Sea Star Beachwear is a New York-based, direct-to-consumer and wholesale brand that designs and manufactures functional and fashionable water shoes for men, women, and children. The company was founded in 2015 by Libby Fitzgerald and Michael Leva. Fitzgerald, who previously worked in PR at Hermès, was inspired to create a stylish water shoe after her teenage sons commented on her unattractive, flimsy pair during a family vacation. Seeing a gap in the market for footwear that combined both fashion and function, she partnered with Leva to reimagine the classic espadrille.
The company's signature product is the Beachcomber Espadrille, which features a breathable, quick-drying neoprene upper and a protective, non-skid rubber sole. This design allows the shoe to be worn in the water and for various activities, from boating to city walking, drying in approximately 15 minutes. The business operates on a direct-to-consumer model through its website and also has a wholesale business, selling through multi-brand boutiques and major retailers like Nordstrom, Saks, and QVC. In a move to scale its dropship operations with large retailers, Sea Star Beachwear began working with Cymbio in 2020 to automate its marketplace e-commerce operations. The brand has also expanded its product line to include bags and other accessories.
In November 2023, the company announced a strategic shift to refocus on its core, essential products to maintain high-quality standards and functional engineering. While initially co-founded with Michael Leva, Libby Fitzgerald is currently the CEO. The company has obtained design patents for its primary products and has seen its estimated annual revenue reach $2.5 million.
Keywords: water shoes, espadrille, neoprene footwear, beachwear, direct-to-consumer, functional fashion, resort wear, travel footwear, quick-dry shoes, non-skid sole, wholesale footwear, lifestyle brand, boat shoes, coastal living, outdoor footwear, family footwear, patented design, water-friendly shoes, beach accessories, travel accessories