Temperley London raises 1.8 million pounds to support 'significant growth'

British fashion house Temperley London has managed to raise 1.8 million pounds in funding to help turnaround its business and transform Alice Temperley's brand into a fully-fledged luxury lifestyle label.

The London Fashion Week stalwart raised the money through its existing shareholders in late 2017, which include banker Rupert Hambi and founder Alice Temperley herself. Backers of the brand have invested over 3 million pounds in London Temperley since 2015.

The latest cash-injection will be used to "support significant growth" in both the brand's wholesale and e-commerce, according to a statement from Temperley London. The fashion brand, which was first founded in West London in 2000, is best known for its high-end range as well as its mid-range collection, Somerset by Alice Temperley, which it sells through John Lewis.

However, losses at Temperley London fell to 2.8 million pounds in 2014 and last June the brand reported a post-tax trading loss of 3.89 million pounds for the year to December 2015. Since then the brand has strived to turn the business into a more 'coherent luxury lifestyle brand.' The label shut its underperforming store in Los Angeles and turned its focus to improving its flagship store in Notting Hill, London, and relocating the bulk of its product sourcing from the Far-East to Europe.

The scheme helped Temperley London's revenues increase 5 percent in 2016 to 11.7 million, as preliminary results indicate growth nearly doubled to 9 percent in 2017, with pre-tax losses down to 0.2 million pounds.

Photo: Temperley London, Pre-Fall 2018, Catwalkpictures