True invests in Apparel Brands Limited to accelerate growth

True, an investment and innovation firm, has announced that it has invested in Apparel Brands Limited (ABL), a UK-based business which sources, designs and distributes branded apparel and accessories to third parties.

True has invested in and helped to build numerous brands including well-known fashion and beauty brands, such as Hush and Warpaint, fulfilment platform Huboo and wellness in the workplace platform Unmind. It also collaborates with industry giants such as Marks & Spencer and Johnson & Johnson.

True’s investment in ABL will be utilised accelerate the growth and expansion of its brands both domestically and internationally.

This builds on the bak of ABL's success. The company has seen strong profitable growth since its inception, growing at a 3-year compound annual growth rate of 52%. Earlier this year, ABL acquired the license for Nicce, adding to its portfolio of brands including Seafolly and Ed Hardy.

Peter Wood, Founder and CEO of ABL, commented: "I am delighted to partner with True. Their deep understanding of brands and the consumer and retail market, coupled with their vast experience in nurturing and scaling successful businesses, will be invaluable as we embark on our next phase of growth."

ABL has positioned itself as an important partner for retailers, however it has high-hopes for scaling the business through the acquisition of branded intellectual property, alongside channel and category expansion.

Ejike Onuchukwu, Director at True, commented: "There is a defensible model at ABL and we see a compelling opportunity to rapidly scale its branded offering by adding complementary properties to its existing portfolio across different price points from value to premium."

Paul Cocker, CEO and Co-Founder of True, added: "We’ve been developing our relationship with ABL over the past couple of years and are excited to partner with Peter and the team, supporting their relentless focus on providing value to their customers."

True is leveraging its extensive retail senior executive and adviser network, which sees Carl Davies, CEO at Perry Ellis Europe, step into the role of Non-Executive Director to support the investment.

This follows the recent news that True partnered up with the British Retail Consortium. The collaboration allows the BRC’s members to access cutting-edge technology and foster innovation through True's expertise and network.