Cefinn secures 1.2 million pound funding round, reports strong financials
London-based brand Cefinn has announced the closure of a 1.2 million pound funding round, which will be used to support its businesses growth.
The womenswear label said the investment round was received “very positively”, with funds to go towards its growth capital.
This will include an increase in stock to support the sales and expansion of the range, acquisition marketing and the recruitment of new expertise in merchandising, production and digital, a press release read.
The company, which was founded by Samantha Cameron in 2017, has established itself as a mid-market designer brand through its slowly expanding range of tailored pieces, elevated dresses, knitwear and shirting.
For its financials, the brand reported a “strong” YOY sales growth of 45 percent to the end of Oct 22, amounting to 3.8 million pounds in sales.
Its e-commerce sales were the predominant driver, making up 65 percent of total sales and seeing a 69 percent increase compared to the same period last year.
Its remaining 35 percent of total sales came from wholesale, through which the brand operates via partnerships with Net-a-Porter, Matchesfashion and Trilogy.
Additionally, Cefinn said losses were also down on the previous year by 32 percent, sitting at minus 166,000 pounds.