Hickies, the two-year-old American company that has launched an innovative elastic lacing system for shoes, has raised $4.2 million in funding through the Collaborative Fund and the venture arm of an unnamed global footwear brand. Based in Brooklyn, New York, the company intends to use the proceeds for the development of new products and expansion into new markets. Hickies has confirmed the previously announced appointment of Peter Mahrer as chief business development officer and Ralf Puschmann as general manager for Europe. Mahrer, who worked previously for Puma, Under Armour and other important brands, will also service on Hickies' board of directors along with a new member, Joanna Rees, founder of VSP Capital in San Francisco.

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