Rachel Zoe on investing in luxury fashion commerce app The List
Fashionistas need no introduction to Rachel Zoe. The stylist has worked with some of the most famous stars in Hollywood to prep them for the red carpets of the most prestigious awards ceremonies worldwide, including the Academy Awards. Zoe has also launched a number of business ventures, including her own eponymous clothing label, a lifestyle website, and her own early-stage venture capital firm, RZ Venture Fund.
Zoe’s latest investment is in The List, a luxury fashion social commerce app launching Dec. 8. She recently shared more with Fortune about the project.
- Startup: The List
- Location: New York City
- Year founded: 2016
- Valuation: Not disclosed
- Investment level: Series A
- Number of employees: 40
Why she invested, in her own words
I have always lived and loved fashion and style; it has been a constant driving force in my life and my career. Throughout my longstanding tenure in the fashion industry, I’ve had a front row seat to the industry’s ebbs and flows as it continues to iterate and evolve.
Among the latest developments, we’ve seen a major shift in the luxury segment where more legacy brands have embraced leaning into a digital marketplace, moving away from the traditional brick-and-mortar status quo in favor of maintaining “exclusivity.” This was largely predicated by the pandemic bringing the classic in-person retail experience to a halt as brands were forced to optimize their digital efforts, which helped them to not only survive but thrive. In watching this unfold and participating as a business owner myself, it was clear to me there was likely going to be this sort of golden age of fashion tech.
When I first met Andreas Skorski, founder of the first luxury-focused social commerce platform The List, and he began explaining his vision, I felt it was right on target with this renaissance moment, and I was excited by the opportunity to be a part of it in a bigger way. Given The List’s innovative technology capabilities—paired with my industry knowledge and the rich industry relationships I’ve cultivated over the years—I was certain we could create something incredible together.
One of the differentiators I love most about The List is that it has taken the best parts of the in-person, luxury-shopping experience and reimagined it for the way consumers are more apt to shop now, meeting them where they are. The app seamlessly combines commerce, social media, and entertainment into a perfect, totally curated experience that fits in the palm of your hand. Retaining the elevated white-glove services that have traditionally been exclusively available in store, The List not only allows its users to livestream with a domestic or international retailer, brand, or personal shopper from the comfort of their home, but serves as an in-pocket personal shopper. For me, hunting down a truly exquisite, insanely rare piece of vintage or discovering a new, up-and-coming designer is so much more than a thrilling pastime, it’s a gorgeous window into fashion’s past, present, and future, but hasn’t always been an accessible or easy task. The List changes all of that with its incredible accessibility.
My investment strategy is driven by my instinct for the genuine passion of the founders and their dream. I am simply drawn to companies that are thoughtfully innovating as well as disruptive, and I believe The List is achieving that. With the social commerce app officially launching on Dec. 8, my journey with The List as an investor and adviser is just beginning, and I am beyond excited to see the vision for The List come to life, and to be a part of the luxury social commerce revolution.
This is an installment of Why I Invested, a series featuring famous investors from all different backgrounds and industries, revealing what inspired them to invest their own money in a new business.