London based Lingerie and swimwear business, Playful Promises, has secured an investment from Bestport Private Equity to finance its fast-growing brands and e-commerce business.
The move comes after the website, which has locally serviced sites in UK, USA and Australia, has been experiencing rapid year on year growth. This year they are expecting to report 70 per cent growth across the whole of their e-commerce network. The business has recently added their own manufacturing capability enabling better control over its supply chain which has seen the homegrown business flourish in recent years. The company prides itself on its inclusive, high-quality, design-led products.
Founded by Emma Parker in 2005, Playful Promises owns and manages a collection of lingerie and swimwear brands. The brands are known for offering playful lingerie and swimwear at an affordable price point with particular expertise in the plus size market. The company sells product on other leading platforms including ASOS and Zalando as well as holding popular licensing deals with numerous celebrities and brands including Gabi Fresh, Felicity Hayward, Bettie Page and Hustler Hollywood.
Parker will be staying on as Managing Director and is growing her current team to bring in additional operational expertise to manage the growth. Experienced retailer Will Hobhouse, previously Chairman of Heals, Jack Wills and Sunspel amongst many others, with a successful record of building profitable businesses, is coming on board as Chairman.
Read more/Source: Private Equity Wire
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