Lancashire designer clothing and footwear online retailer, Designerwear International [www.designerwear.co.uk] has secured a six-figure investment from the North West Business Growth Loan, managed by River Capital.
This funding will help the company to facilitate its rapid expansion and forge further significant partnerships with leading designer brands.
Since its establishment in 2015, Designerwear has developed sound digital infrastructure, grown to a team of ten and now operates from a 16,000sqft warehouse.
Under the leadership of MD Ben Wallington, Designerwear has grown from humble eBay beginnings to become a force in the industry, underpinned by the Covid-19 lockdown when the etailer attracted thousands of new customers, providing a solid platform for further growth.
This latest cash injection will enable the team to boost sales revenue, improve supplier terms, increase margins and create up to five new jobs.
Wallington said: “The funding provided by Jim [Moore] and the River Capital team will enable us to move to the next level with our expansion plans to grow our customer base, revenue and brand portfolio in the mens and womens premium online space.”
River Capital investment manager Jim Moore added: “The future looks phenomenally bright for Designerwear International. With the financial fuel to match their limitless ambition, there’s no telling what the business could achieve.
“When the fund was established, it was done so to create and safeguard jobs within the North West and Ben’s plans to create up to five indicates their commitment to doing just that. We now look forward to following the next part of their journey and offering support along the way.”