Cash infusion will accelerate Pink Lily’s growth

Bowling Green-based online clothing retailer Pink Lily Boutique has attracted plenty of attention from customers who have helped the business ring up more than $70 million in sales since its launch in 2014.

Now that success has helped the company attract a cash infusion of a different sort that will allow Pink Lily founders and husband-and-wife team Chris and Tori Gerbig to accelerate the expansion they began last year.

Chris Gerbig announced last week that Pink Lily – already included on Inc. magazine’s list of the fastest-growing companies in America – has received a “significant” minority investment from private equity investors in the Silicon Valley area.

He didn’t reveal the amount of the investment, but he said: “It’s definitely enough to shift things into a higher gear.”

The investors, who Chris Gerbig said came through the Website Closers brokerage website, focus on partnerships with fast-growth e-commerce businesses.

The cash comes at a time when Pink Lily is in the midst of a $2 million expansion of its warehouse and fulfillment center in Warren County’s South Industrial Park.

That expansion, which called for adding some 50 employees over five years and nearly doubling to 50,000 square feet the size of its warehouse and headquarters in Bowling Green, can now be fast-tracked.

“The idea now is to accelerate the growth a little more,” Chris Gerbig said. “These partners from Silicon Valley have the resources and experience that we may not have. All they do is invest in fast-growing e-commerce businesses and help them reach that next level.”

Pink Lily had already been experiencing some “next-level” growth since the Gerbigs started the company in their living room. Riding the rising tide of e-commerce and their own savvy use of social media, they have guided the company to 265 percent growth over the past three years.

Tori Gerbig, a Bowling Green native and 2005 Warren Central High School graduate, expects this investment to super-size the company’s growth.

“We are thrilled to work with this group of private equity investors who bring a wealth of global retail experience to the table,” she said in a news release. “As we enter the next phase of Pink Lily’s growth, this financing will enable us to continue engaging with our customers in new and innovative ways while bringing the Pink Lily lifestyle to even greater audiences.”

Chris Gerbig said the new business partners have “helped grow a lot of online companies that are bigger than we are,” but he isn’t limiting Pink Lily’s growth possibilities to more visitors to the company website.

The company opened a brick-and-mortar store on Scottsville Road near Greenwood Mall in 2017, and Chris Gerbig doesn’t rule out more such shops.

“We may look at more retail stores in bigger cities,” he said.

Other changes could be in the works, and Chris Gerbig doesn’t rule out someday seeing Pink Lily being publicly traded.

“The sky’s the limit,” Chris Gerbig said. “Going public is definitely an option. That’s not out of the equation.”

As for changes in the Bowling Green area, Chris Gerbig said: “Local people can expect to see more inventory at our retail store and more job openings at our headquarters. We just hope to keep growing and continue being profitable.”