Pomp & Whimsy has announced $2.65 million in new funding drawn from a collection of A-list investors, including fashion entrepreneurs, executives at top consumer brands and angel funds supporting female founders.
Among the marquee names backing the brand are Rebecca Minkoff, Founder of Rebecca Minkoff and The Female Founder Collective; Michelle Grant, Founder and CEO of Wear Lively; Academy nominated, Emmy and Peabody award winning film producer Regina K. Scully; and advertising luminary Cindy Gallop. Additional support comes by way of current and former executives of Estee Lauder, Twitter, Facebook, Warby Parker, and Crate & Barrel.
Dr. Nicola Nice created Pomp & Whimsy Gin Liqueur after working for over two decades as a consultant to the spirits industry. Bringing her personal, professional, and academic passions together, she spent two years researching and experimenting with home infusions for a gin-based liqueur that would redefine the spirit once known as “Mother Gin”, launching the brand in January 2017.
“As a researcher and brand strategist, I have spent my career observing how women shape trends in cocktailing from their position as the drivers of purchasing decisions and as the chief entertainers of the home,” said Dr. Nice. “Yet for years the spirits industry has not taken women seriously. I launched Pomp & Whimsy because I felt it was time to give women back their rightful place in the story of gin and the cocktail.”
“It’s an incredibly exciting time to be a founder in this industry and the company is really at a pivotal moment in its growth” she added. “We are grateful to be at the center of a wide network of powerful women and men who are lifting the rope for entrepreneurs to bring fresh perspective through innovation. That our investors come from backgrounds as varied as fashion, beauty, banking, and the alcohol industry speaks not only to the broad appeal of the brand, but to the timeliness and importance of its mission.”
Pomp & Whimsy will use the new funds to accelerate growth in key markets. Distribution will expand through current and new distribution partners including Breakthru Beverage Group and Allied Beverage, Republic National Distribution Company, Opici Family Distributing, and Favorite Brands. The company also plans to build on its successful e-commerce business through its partnership with Thirstie.
As investor Rebecca Minkoff said of the deal, “Women-led businesses tend to be more successful on many levels. There’s not only a social imperative to invest in female founders, economically it’s the smart thing to do.”
“As a founder and a CEO, Dr. Nicola Nice has displayed the kind of passion and talent for pursuing a brand promise that is rare, and she is already delivering tremendous value to our industry,” said spirits industry veteran and Pomp & Whimsy board advisor and investor Ted Roman. “I look forward to continuing to help guide Nicola and her team in building the brand with new distribution, portfolio expansion and national sales opportunities.”
Cate Luzio, Founder and CEO of Luminary, investor and member of the Pomp & Whimsy board of advisors, added, “Pomp & Whimsy has established itself as a brand that understands how to speak to women and is led by an incredibly passionate and entrepreneurial team. The great strength, ingenuity and success the business has demonstrated through the last year especially, is testament to the enormous growth potential of the business going forward.”
The round is being led by El Dorado Spirits, LLC, a private venture group headed by consumer and retail veterans Steven Wisch and Alex Brick, and includes additional funding from angel groups Golden Seeds, Oxford Angel Fund, and Next Act Fund.
For more information, head over to Pomp & Whimsy’s official website.