Fayetteville-based company Acumen Brands got a huge shot in the arm this week in the way of a sizable investment from a national department store chain.
Dillard’s Inc. officials announced on Wednesday that they’ll invest $4 million in Series B preferred stock in the Fayetteville-based commerce company.
Under the investment agreement, Acumen, which operates 12 online storefronts including scrubshopper.com, toughweld.com, and countryoutfitter.com, will help to enhance dillards.com and offer technological marketing services to improve the overall online presence of Dillard’s.
In addition, Dillard’s vice president Kent Burnett will serve on the Acumen Brands board of directors to provide strategic guidance for the company.
“We are excited to partner with Acumen Brands, underscoring our continuing commitment to the growth of dillards.com,” said Alex Dillard, president of Dillard’s . “We are impressed with this young company’s accomplishments in the ecommerce arena to date and we look forward to collaborating with this highly talented team.”
Acumen CEO John James, M.D. added, “We are honored to work with Dillard’s and we look forward to learning from their vast experience and success as we work to shape the future of online commerce.”