- Vivian Hendriksz |
A new women's wear label, named Finery London, is set to make its debut launch next February, receiving financial backing from the Rocket Internet - backed Global Fashion Group (GFG), formed last September.
The British women's wear label, founded by Caren Downie, former fashion director for Asos and Topshop buying director and Nickly Raithatha, former global managing director at Rocket Internet, was designed to sit between the high street and mid-market segment.
“I felt that there was a segment of women who had grown out of the high street and were looking for a considered outfit with a focus on quality, but without that significant jump in price we've been seeing in mid-market brands,” said Raithatha in an interview with Business of Fashion.
Finery London'a first 150 piece collection is set to offer clothing, footwear and accessories, with the average retail price ranging between 40 to 80 pounds per item. Simple knits will start at 35 pounds, whilst the most complicated evening wear pieces can cost up to 250 pounds. The label's collections will be “transseasonal,” launching 4 to 5 times a year.
The brand will first sell its collection online, through its own websites Finerylondon.com, shipping to the UK, US and Canada before looking further retail and wholesale options in selected markets, including Australia and Russia. “We are launching with a number of partners around the world to start with, which includes members of the Global Fashion Group including Lamoda in Russia and Zalora in Australia.”
“A real, successful business model relies on having that customer loyalty and that only really comes when you have a brand,” continued Raithatha, who is also chief executive of the brand. “[GFG] believes that there is an opportunity here and that we’ve put together the right team to make something great happen. If you look at the largest twenty fashion players in the world, they are all brands.”
Downie, who is brand director of Finery London, Luca Marini who has been appointed chief operating officer and Emma Farrow, who has joined the team as head of design round out the executive team at the women's wear brand.