The occasionwear e-tailer, LittleBlackDress.co.uk, backed by TV personality and singer Alesha Dixon, has closed its fourth funding round, taking its total investment to 2.5 million pounds.
The cash injection will be used for job creation and further expansion, the fashion e-tailer stated in a press release, as well as upgrading technology, raising brand awareness online and the exploration of an exclusive brand party range of dresses for autumn/winter 2018/19.
LittleBlackDress.co.uk was set up in 2014 and, along with Dixon, counts former Shop Direct creative director Mark Evans who it its chief executive, chairman Ian Langley, David Walter and Greater Manchester Combined Authority as its shareholders.
Commenting on the investment, chief executive, Mark Evans, said in a press release: “One of the biggest challenges the business has faced has been cash flow like any other business. It has been a challenging and exciting year to say the least. We are pleased to say that we are entering the next phase of the brand’s development with a sense of confidence and optimism.
“We’re a brand that is all about bringing fabulous to our customers and the continued support of our brand partners has been invaluable. Future growth and expansion will come from ensuring we have the newest and the best brands on board.”
Alesha Dixon backed e-tailer LittleBlackDress.co.uk exceeds 2.5 million pounds after latest investment round
Since launch, LittleBlackDress.co.uk has sold more than 90,000 dresses, has clocked up nearly 5.9 million visits to its website, and has raised 10,000 pounds for women’s charity Refuge.
The e-tailer stocks more than 40 brands and currently has 1,500 dresses available online, ranging from 50 to 700 pounds, from designers including Little Mistress, Closet London, Marc Angelo, Goddiva, as well as a dress designed by Dixon herself.
Chairman, Ian Langley, said: “The process we have gone through has seen all the business stakeholders standing together in the firm belief Little Black Dress remains a unique and highly desirable business proposition. You will be pleased to know, we are now moving towards profitability. Which, in today’s world of turbulence in the retail sector, is a major achievement.
“We are confident that we are continuing our growth rate and remain quietly confident the next season will be better than ever, as we begin to take a stronghold as a premium luxury marketplace for fabulous dresses.”
Evans added: “The aim is to become the ultimate marketplace for fabulous dresses.”
Images: courtesy of LittleBlackDress.co.uk