Watchmaker Bremont secures 48.4 million pounds in funding

British watchmaker Bremont has secured an investment of 48.4 million pounds (59 million dollars) following a record year.

The funding came from investors Bill Ackman and his affiliate, alongside existing investor Hellcat LP.

“This new capital will enable us to invest in marketing, distribution, and talent,” said Bremont co-founder Giles English in a statement.

He continued: “The British watch industry is the birthplace of some of the most important timekeeping innovations, including the perpetual calendar, and we are delighted to continue our country's history of manufacturing and innovation through the global growth of Bremont.”

The investment comes after Bermont reported record annual revenue growth of 28 percent in its most recent financial year.

The funding will also help Bremont open new boutiques in the US and globally, expand wholesale operations, enhance JV partnerships, and improve brand visibility.