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Sustainable underwear brand Stripe & Stare recieves £2.5m investment

Camilla Rydzek
21 January 2022

Devon-based sustainable female underwear brand Stripe & Stare has completed a £2.5 million investment round that will be used to scale its business.

UK and Ireland based investment company BGF provided £1.5 million of the total capital with the remaining amount coming from private backers, including by co-founder of adult sex-toy and lingerie company Lovehoney, Richard Longhurst.

Stripe & Stare was founded in 2017 by friends Katie Lopes and Nicola Piercy with the aim of creating comfortable and eco-friendly intimates. Its product range includes underwear, lounge and sleepwear and is made from sustainably produced Modal. The brand claims that its underwear is 95% biodegradable and that last year it released a world's first lace underwear collection that was 100% biodegradable and so can be composted.

The investment will be used to increase staff count and production capacity at its Yelverton HQ and drive UK and international sales.

Stripe & Stare investment sustainable intimates

According to the company its revenue has grown over 100% annually over the past three years driven by increased consumer demand, a strong e-commerce market and being stocked in UK retailer Selfridges and US retailer Bloomingdales.

Nicola Piercy, co-founder of Stripe & Stare, said: “The last 12 months has exceeded all expectations for the business. We’ve seen consistently strong organic growth and repeat purchase rates. We’ve created a product that women absolutely love and as a result we’ve received global recognition for our product range. In order to move to the next stage of growth it was clear we needed a partner who understood the needs of our company and could provide the support we need to scale.”

Daniel Tapson, investor at BGF, said: “Stripe & Stare represents an exciting opportunity to back a fast growth brand which has placed sustainability right at the heart of its business. We have been impressed by the vision and values of Nicola and Katie, two inspirational female founders, who are determined to shake up the fashion industry and are passionate about demonstrating that there is no trade-off between profit and purpose."

Stripe & Stare chairman Robin Howard, a former menswear and childrenswear director of Boden, said: “Stripe & Stare has a clear vision to be one of the biggest sustainable fashion brands in the world. As a result of BGF’s backing, and the support of our new investors, we will have the financial footing and strategic guidance to make this a reality.”

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