Every widespread source of entertainment has the potential to develop a strong fandom of consumers. Whether it’s sports, TV shows or even video games, consumers go all out for what they love, especially when it comes to apparel. Sports jerseys and coffee mugs with TV show catchphrases are just a few consumer-facing products developed by entertainment lifestyle brands in response to consumer demand.
Boston-based XSET knows the intersection of the apparel and video game sectors well. The gaming and lifestyle brand manages esports teams and sells gamer-centric streetwear such as hats, shorts and shoelaces on its website. The two-year-old company refers to itself as “the most diverse, innovative, socially conscious pop-gaming and esports ‘SET’ ever assembled.”
Earlier this week, XSET raised a $15 million Series A round led by streetwear and lifestyle company LightWork Worldwide. Other investors in this star-studded round include record labels Young Money Entertainment and Quality Control and NFL athletes like Ezekiel Elliott, Justin Simons, Adrian Colbert and others.
XSET co-founder and COO Marco Mereu told Built In via email that the startup plans to use its fresh funds to scale the business and actively hire across all capabilities.
In addition to announcing the raise, the company also opened a west coast office in Compton, California, just south of Los Angeles. XSET says its California office will serve as a training facility for its esports teams and a studio for content creation.
“The gaming lifestyle market has tremendous potential globally and we see XSET as the next big youth culture brand driven by a top-notch team,” Edward Zhou, chairman of LightWork Worldwide, said in a statement. “Not only do they have many differentiating qualities from their competitors, [but] they also completely align in terms of our strategic vision towards creating a formidable lifestyle brand that transcends markets.”
