Designer apparel e-tailer Designerwear International has secured a “game-changing six-figure investment” from the North West Business Growth Loan, managed by River Capital.
With the funding, the Lancashire-based company said it would bolster its rapid expansion and establish partnerships with leading designer brands.
Founded in 2015 by Ben Wallington, Designerwear has seen a 90 percent growth period in 2022, and currently operates a 16,000 square foot warehouse.
Putting to use the latest cash injection, Wallington said that he plans to boost sales revenue, improve supplier terms, increase margins and create up to five new jobs.
In a release, the managing director said: “The funding provided by Jim and the River Capital team will enable us to move to the next level with our expansion plans and to grow our customer base, revenue and brand portfolio in the mens and womens premium online space.”
Jim Moore from River Capital 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.”
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