UK-based custom-made-on-demand menswear label Spoke has secured £ 5 million investment to speed up its growth and global expansion plans.
The crowd-funding round was supplemented by brand’s current investors, led ably by Oxford Capital. It also, however, saw participation from 24 Haymarket, BGF and Forward Partners.
The brand has said that the money would be used for its team, technology and marketing measures so as to support its plans to grow internationally – especially the US.
Notably, the US market is presently growing at more than 100 per cent per annum and is Spoke’s second largest market after the UK.
The menswear brand said that it aims to invest in a dedicated US team that will be based in London, to enhance its efforts to increase its US revenues by four times by FY ‘24.
It is,at present, trading ahead of targets for the full year, with its year-on-year gross revenues currently up by over 60 percent.
Spoke is known for making clothes built for fit, with real craftsmanship.
