Atterley on track for 150% sales growth
Atterley, the online platform for independent fashion boutiques, is on course for 150% sales growth this year and is gearing up for a Series A funding round.
The platform, which was established by entrepreneur Michael Welch in 2016, doubled its sales in 2018 and now has 200 retailers and more than 1,300 brands on board. Some 30% of its sales now come from non-EU markets.
Founder and chairman Welch said in a report in The Herald: “We’re excited to see Atterley start to scale, underpinned by a hard-working team who remain focused on keeping the boutiques and our UK and international customers front and centre of everything we do.
“It’s gratifying to see that reflected in both sales growth and how highly we are rated for customer experience."
Welch said that a series A funding round was the next priority for the business. "I’d anticipate early stage discussions with VC’s and strategic investors as early as November this year," he said.
The entrepreneur sold Blackcircles.com, the online tyre business he founded in 2003, to Michelin four years ago for £50 million. In 2016 he bought the assets for former online multi brand etailer Atterley from KPMG and transformed it into a platform for independents.
In October 2018 the business landed a multi-million pound funding deal from London and Hong Kong-based fashion design and manufacturing business PDS Multinational.