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Percival Menswear receives £3m investment to drive growth

Lauretta Roberts
30 April 2021

Percival Menswear, a London-based contemporary menswear fashion brand, has secured a further £3m investment from growth capital investor VGC Partners, following an initial investment of £150,000 in 2018.

Based in Hackney, the brand seeks to "subvert the classics of the male wardrobe" and its clothing has appeared in the David Beckham eyewear ad campaign. It has also created a customer tour wardrobe for singer Niall Horan and has recently collaborated with Brighton-based artist and illustrator Sophy Hollington.

Percival Menswear is lead by creative director Chris Gove along with head of marketing Terry Donovan. It used its previous investment to establish a unique business model, efficient supply chain and robust e-commerce infrastructure that enables mass personalisation and new product drops every six weeks. 

This second round of funding by VGC Partners will be used to double the depth of stock across all core styles to keep up with demand, as well as introducing new categories and continuing to enhance the customer experience and service.

The brand has doubled its net sales year on year, which resulted in it hitting its 2022 target two years in advance.

Gove said: “The growth we’ve seen in the past few years has been incredible. Hitting our 2022 target by November 2020 just proved to us that we’ve created a brand that is truly desirable. Clothing is inherently personal so we’re proud to see so many customers enjoying and recommending our collections.

“The investment from VGC will be essential in our next stage of growth and will allow us to deliver more quality, British design to our customers in the UK, as well as expanding our platform to service our growing customer base in the US and Europe.”

Parminder Basran, Founder and Managing Partner at VGC Partners, said: “Menswear accounts for around a quarter of the total clothing market and while undoubtedly competitive, Percival has carved out a niche by creating a new take on the classics and delivering consistently high levels of quality. The team inherently understands fashion, but also its customers and as a result create collections that continue to sell out, and our investment will help them service that continued demand.

“The business has proven its strength since our initial investment, and with the experience of the management team and our guidance, there’s no doubt Percival will continue to thrive not only in the UK, but internationally.”

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