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Our Investors & Board of Directors

ABS Capital – Lead Investor in eFashionSolutions, LLC.
Total Equity round: $17.5 million
Co-Investors: Piper Jafray, Seacoast Capital

eFashionSolutions Board of Directors
Edward P. Foy, Jr., DIRECTOR, CO-FOUNDER AND CEO
Edward has spent his entire career in retailing and fashion, getting his start in Macy’s Executive Training Program and later joining the wholesale business at Calvin Klein Jeanswear. As liaison between the sales and MIS departments, Foy was instrumental in the development of warehousing systems and reporting tools which maximized sales and inventory turns. During this time, Foy developed key relationships with retail buyers and regional merchandising managers from large specialty chain stores, which became invaluable for his e-commerce success.

In 1998, Foy founded CyberRetail.com, which obtained exclusive online distribution contracts with branded fashion manufacturers, and worked closely with third party software vendors in developing custom applications unique to fashion e-commerce. This entrepreneur experience, and understanding of the current market needs for turn-key e-commerce solutions, led him to design a business model as the backend facilitator for branded fashion designers and manufacturers; he formed eFashionSolutions in late 2000 with his wife, Jennifer Silano-Foy. The company has seen exponential growth in its revenue and client base since its inception. With a roster of celebrity brand partners which include Dereon by Beyonce, Baby Phat by Kimora Lee Simmons, Rocawear by Jay Z, and luxury brands DKNY, Leiber, Rafe and Oscar de la Renta, eFashionSolutions has earned high marks as a leader in fashion-forward e-commerce. In 2007, they were named to the Entrepreneur Hot 500, NJ Finest 50, received the USPS Strategic Business Development Award (prompting a Capital Hill invite), and honored as a Webby Award finalist for DKNY.com. In 2006, eFashionSolutions was named to the Inc. 500 by Inc. Magazine, and was recognized as one of New Jersey’s Finest, a list of the state’s 50 fastest-growing companies. Ed Foy, Jr. has been profiled in TIME Magazine, Investor’s Business Daily, CNBC, CBS Marketwatch, WWD, Apparel Magazine and is a frequent guest on Bloomberg media. Foy received his Bachelor of Arts degree in Finance from Iona College. He is a member of the New Jersey Technology Council and Technology Enterprise Council. He is a five-time State Champion, a three-time U.S. Cup Champion and a Junior Olympic Champion in Tae Kwon Do and was a 1992 Olympic hopeful. Foy resides in Spring Lake, New Jersey with his wife and two children.

James Menzies, Director
Mr. Menzies is the founder of Leontine Consulting, LLC, providing consulting services to a wide spectrum of clients including privately held financial institutions, insurance agencies and software providers. At age 45, Jim became the President and CEO of Key Bank of New York, the largest financial institution outside Manhattan in the state of New York. During his tenure, he managed $15 billion in assets, 330 branch offices and 5,000 employees. From 1991 to 1993, Jim held the role of Executive Vice President and Chief Credit Officer at KeyCorp and was the youngest member of KeyCorp’s senior management staff. In this role he was responsible for the Credit Management Division and was a member of KeyCorp’s Asset/Liability Committee and Chairman of NCB Properties Inc., a specialized problem asset management subsidiary of KeyCorp. Furthermore, he was involved with merger and acquisition analysis including due diligence, loan portfolio assessment, management assessment, negotiation and pricing and was instrumental in over 20 bank acquisitions. He headed KeyCorp’s senior loan committee, was Chairman of the Credit Policy Committee and was Chairman of a $400 Million workout and troubled asset company. During his career, Jim has been involved in several startups and has served on various profit and non for profit Boards including the Albany Medical Center and served as Chair of the College of St. Rose and Wercs, LTD.

Phil Clough, Director
Mr. Clough is a Managing General Partner at ABS Capital Partners whose investment interests and experience include business services companies. He currently represents ABS Capital on the boards of American Public Education, Inc., eFashionSolutions, LLC, Liquidity Services, Inc., Payformance Corporation, Rosetta Stone and Restaurant Technologies, Inc. Prior to joining ABS Capital in 2001, Mr. Clough gained operating experience from his years at SITEL Corporation, the global leader in providing outsourced call center services to large corporations, where he was CEO and President from 1998 to 2001. While at SITEL, Clough grew both revenues and EPS significantly, as well as established relationships with corporations such as GM, America Online, Siebel and IBM. Most importantly, he learned the value of setting and clearly articulating goals and priorities for his team—and regularly measuring against them—something he routinely helps his companies with today. From 1990 to 1997, he was in the Investment Banking Group at Alex. Brown & Sons Incorporated, leading their business services efforts, where he advised clients on M&A transactions and equity and debt offerings. He served in the United States Army from 1983 to 1988, rising to the rank of Captain in 1987.

Ralph Terkowitz, Director
Mr. Terkowitz is a General Partner at ABS Capital Partners whose investment interests and experience include both media & communications and software companies. He currently represents ABS Capital on the boards of American Public Education, Inc., eFashionSolutions, LLC, Vibrant Media, Inc., Innovation Interactive, LLC and MeMedia, Inc. He is an observer on the board of Course Advisor, Inc. Prior to joining ABS Capital in 2004, Ralph served as CIO/CTO of the Washington Post Company. During his tenure, Ralph worked with the Post’s six major divisions on all major technology and development operations and investments. From 1996 to 2003, he had primary responsibility for The Washington Post’s venture investment portfolio. Under his direction, performance exceeded that of other corporate venture investors who manage for both strategic value and investment returns. Also while at The Washington Post, Terkowitz served as founder and CEO of its electronic publishing subsidiary, Washington Post, Newsweek Interactive (formerly DigitalInk). The subsidiary became known for its innovation and led the industry in developing new revenue models for electronic media. One of the products created by Terkowitz, washingtonpost.com, continues to be among the most visited news and information sites on the Internet. Ralph brings a combination of entrepreneurial spirit, operational know-how and genuine enthusiasm to everything he does and is never slow to call upon his many industry contacts for the benefit of his companies.

Lori Schafer, Director
Ms. Schafer has over 20 years experience in consumer goods, retail and technology currently holding the position of Executive Advisor, SAS Global Retail Practice in addition to serving on several public and private retail and technology boards. At SAS, prior to her current position, Schafer served as the Vice President, Global Retail Practice and President, Marketmax, a Division of SAS. Since 1996, Schafer was CEO of Marketmax, Inc., an industry leader in retail merchandise planning and analytics software. Marketmax was acquired by SAS in 2003. Schafer began her career at The Procter & Gamble Company and then spent time as a consultant to some of the nation’s top retailers. In addition to eFashionSolutions, Schafer currently serves on the boards of A.C. Moore (NASDAQ: ACMR) – Chairman, Compensation Committee and Audit Committee; Trans World Entertainment Corporation (NASDAQ: TWMC) - Governance and Audit Committees; and geoVue, Inc. (Private) where she is Chairman of the Board.

Please contact us at investors@efashionsolutions.com