My-Wardrobe bags funding of £6m to move into Europe
Tuesday 06 July 2010
The online fashion store My-Wardrobe has received an investment of $9m (£6m) from a venture capital group to accelerate its growth overseas.
The injection of cash by Balderton Capital and Angel Investors is the first My-Wardrobe has received from an institutional investor. The British company sells "accessible" fashion labels such as Ralph Lauren and Mulberry. Its chief executive Sarah Curran, who launched My-Wardrobe in 2006, said: "Through investment in both offline and online marketing channels, we plan to accelerate our global expansion over the next five years."
Although it already delivers merchandise overseas, it has not yet done "any active international marketing" and the investment will help it push into Europe.
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