INSIDE LINE: Direct Equity takes stake in RedEnvelope

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Direct Equity Partners, New York, a private equity fund that invests in on- and offline direct marketing companies, led a $33 million investment in RedEnvelope, a San Francisco-based catalog and online gift seller. RedEnvelope will use the funding to boost brand awareness and customer acquisition, and purchase inventory for the holiday season.

Direct marketing agency NetworkDirect, Willow Grove, Pa., formed full-service e-mail marketing unit EagleEmail to provide opt-in e-mail marketing solutions by creating and delivering messages, building and managing e-mail databases, and handling privacy and security.

Watch company Fossil Inc., Richardson, Texas, will launch its second direct-mail campaign in 16 years early next month with a 200,000-piece mail drop for its new line of retro apparel and jeans, launched last month on fossil.com and also available at its five stores. The effort was created in-house.

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