Wolf & Badger raises £4.5m in growth funding
Wolf & Badger, the the British-based online marketplace and retailer with stores in London and New York City, has today announced the completion of a £4.5m fundraise from the Guinness Asset Management EIS Fund.
The business, founded by brothers George and Henry Graham, said it would be using the funds to "cement its position as the most coveted retail destination for independent designer brands".
Since launching its website and first store in Notting Hill in 2010, Wolf & Badger has used its platform to promote upcoming designers allowing them to reach new audiences. It now operates worldwide and works with more than 700 independent designers, focusing on menswear, womenswear, jewellery, accessories, beauty, grooming and homeware products.
Last autumn it opened a 12,000 sq ft multi-purpose department store and events space in the new Coal Drops Yard development in Kings Cross, London having previously opened a store in Soho, New York.
“This new funding provides the opportunity to take an exciting step forward in delivering on our mission to connect discerning shoppers with the best independent brands on a global scale. With this new capital we will be able to make it even easier for our loyal and ever-expanding customer base to discover and shop through our platform and enable more independent, ethical designer brands to reach customers,” said co-founder and chief executive George Graham.
The funds will be invested in staff and technology, as well as enabling the business to scale in its core markets of the UK and US and to expand into additional verticals including homeware and beauty.