Washable Shoe Brand Rothy’s Is Said to Seek Fresh Funding

Rothy’s Inc., a direct-to-consumer footwear brand, is in discussions to raise funding that could value it at more than $1 billion, according to people with knowledge of the matter.

It’s the latest eco-friendly brand looking to capitalize on the interest in clothing and accessories that are better for the environment.

Rothy’s is working with an adviser on the funding round and could also explore other strategic alternatives including a potential sale of a majority stake, the people said, asking not to be identified because the matter is private.

The discussions are early and details of the round including ...