Hari Mari Flip-Flops. Photo courtesy of Hari Mari website.
Hari Mari, a Dallas-based sandal retailer founded by Lakewood neighbors, announced on March 6 that the company closed on a $10 million equity raise to support its continued growth plans in casual footwear and lifestyle.
The company’s equity investment round is led by Landon Smith, financial services entrepreneur and former founder and CEO of Riveron.
“Well-made consumer products in the casual space will serve as growth centers for decades to come. We believe Hari Mari is going to be a front-runner in that conversation, and our investment is going to give the brand and its management team the runway to get there,” Smith said in a statement. “It’s going to be a fun journey.”
Alongside the investment, Smith and his advisory team will serve an active role in helping Hari Mari management shape and advance the company’s strategic goals in the coming months and years.
“Since starting the brand from our garage in 2012, my wife and I have dreamed of growing Hari Mari into a household name,” said Jeremy Stewart, HariMari’s co-founder and CEO. “Hari Mari makes best-in-class footwear and delivers exceptional value to its great customers. With this raise under our belt, we’re investing in our core high-margin flip flop and slipper lines, expanding our audience reach, and strengthening our position to set Hari Mari up for sustainable, long-term growth in the market.”
Additionally, the company has launched its first ever larger, wider flip-flop, the ‘Grande.’
The Grande will come in two colors: tan and charcoal, made with a wider footprint and larger volume straps to accommodate bigger feet, specifically a double E width,. The product boasts a thicker and soft squeeze midsoles for added support.
The sandals are made with soft premium nubuck leather and have 10 millimeters of arch support. The tan Grande will be sold in retailers across the U.S. with the Charcoal being an online exclusive
