Tearaway eye wear group Bailey Nelson is set to front private equity funds and other growth capital investors for a funding round through Goldman Sachs.
Bailey Nelson was set up as a direct-to-consumer eye wear company in 2012, sourcing spectacle frames, lenses, sunglasses and the like, and selling them to customers via its store network and online.
The company has grown to about 40 stores in Australia and its network also stretches New Zealand, Canada and the UK. It is understood to be making more than $100 million revenue a year.
The growth agenda – dozens more stores in the next few years – comes with a cost, and Bailey Nelson is keen to talk to new potential investors about chipping in to help pay for the expansion.
Source: Financial Review
By Sarah Thompson, Anthony Macdonald and Tim Boyd
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