Ace & Tate secures 14 million euros to fund European expansion

Dutch eyewear label Ace & Tate has raised 14.25 million euros to help fund its European expansion.

The Amsterdam-based brand said the money will be focused on three areas: retail expansion in new and existing European markets; new technologies to bolster its omnichannel model; and building on current sustainability initiatives.

The seven-year-old company aims to grow its physical store network by 70 percent in 2020 to a total of 70.

This latest round was led by existing investor Rinkelberg Capital LTD and brings its total funding to 57.5 million euros.

The contemporary brand has grown 60 percent year-on-year for the past two years and expects to more than double its revenue in the next two years.

“Ace & Tate was founded to make quality, stylish eyewear accessible, by giving our customers the best retail experience possible. The recent round of funding will allow us to unify our physical and digital retail channels even further, to create a frictionless, more personalised shopping experience for our customers,” founder & CEO Mark de Lange said in a statement.

“As we move into 2021, our customers remain our focus. We will continue our mission to lead the eyewear industry to be more accessible and sustainable.”

Photo: Ace & Tate tore in Wiesbaden, Germany. Via Facebook.