Designerwear International, an online retailer of designer apparel, has secured a “groundbreaking six-figure investment” from Northwest Business Growth Loan, managed by River Capital.
The Lancashire-based company said the funding will fuel its rapid expansion and establish partnerships with major designer brands.
Founded by Ben Warrington in 2015, Designer Wear has grown by 90 per cent in 2022 and now operates from a 16,000 sq ft warehouse.
Warrington said it planned to use the latest capital injection to increase sales, improve trading terms with suppliers, boost profit margins and create up to five new jobs.
“The funding provided by Jim and the River Capital team will enable us to take our expansion plans to the next level, growing our customer base, revenue and brand portfolio in the premium online space for men and women,” the managing director said in a statement.
Jim Moore of River Capital added: “The future looks incredibly bright for Designerwear International. With the financial resources to match their boundless ambition, there's no telling what the business could achieve.”
“The fund was established to create and protect jobs in the North West and Ben's plans to create up to five jobs demonstrate their determination to do just that. We look forward to watching the next stage of their journey and offering our support along the way.”
