British luxury fashion brand Me+Em, founded by Clare Hornby, has raised 55 million pounds in its latest funding round led by Highland Europe to accelerate its international expansion.
Me+Em has become known for offering modern women long-lasting, high-quality contemporary luxury clothing that combines function and fit with ethical values. This ethos has seen the direct-to-consumer brand report triple-digit revenue growth globally over the past year, as consumers continue to prioritise higher quality purchases with sustainability credentials.
Highland Europe, the growth investor behind MatchesFashion, Threads and Huel, has led the investment round and will join existing investors Sir Charles Dunstone CVO, the executive chairman of TalkTalk, and Venrex Investment Management, which was an early backer of Revolut, Charlotte Tilbury, Not on the High Street and Lyst.
Me+Em targeting international growth following investment
Me+Em will use the investment to accelerate its expansion in the US, which is the brand’s fastest-growing geography, as it has quadrupled its revenues in the region over the past three years, as demand from high-spending American customers continues to grow. This demand from US shoppers is the focal of its expansion plans, with Me+Em looking at opening new stores in New York and Boston in 2023.
Me+Em founder and chief executive, Clare Hornby, said in a statement: “From day one we’ve been passionate about democratising luxury for busy women of all ages who want to wear beautifully tailored clothes, made with care and attention to detail, that fit perfectly.
“Having seen soaring demand for our clothes in the US and other key international markets, we know that there is a global appetite for the cut, quality, and style that we have created. As a digital first, data-driven business we are seeing a huge opportunity ahead of us and with Highland Europe’s expertise in this area, we can use technology to delight and serve our customers across the world even more effectively.”
Me+Em to expand in the US, Australia and the Middle East
Me+Em is also targeting international expansion in Australia, the Middle East, Canada, Switzerland, and Hong Kong, where it also has a fast-growing customer base, as well as continental Europe.
Sam Brooks, partner at Highland Europe, added: “Me+Em’s relentless focus on quality, fit and sustainability has inspired an incredibly loyal customer base and has generated impressive growth over the past several years.
“In addition to the success in the UK we are impressed by the strong demand coming from international customers, a testament to the brand’s global relevance and appeal. Clare is a fantastic leader, and we are thrilled to partner with her and the Me+Em team.”
Me+Em's success has been credited to its ability to tap into the needs and demands of busy, multi-generational, affluent women by offering head-to-toe dressing solutions dubbed “fashion lego," as well as its strong sustainability commitment. The brand is a member of sustainable initiatives such as Better Cotton, as well as the global auditing platform Sedex and the Ethical Trading Initiative, and for its SS21 collection, more than half was made from natural or recycled materials.