Percival, the British premium menswear brand, has secured an investment of £3 million from VGC Partners, which is a growth capital investor.
The £3 million funding, reportedly, will be utilised to increase the stock across all core styles by two times – catering to the fast-increasing demand.
The fund would additionally be used to introduce new categories and further enhance customer experience.
Besides, the menswear brand is also eyeing to increase its market share globally. Percival, making most of its US and European sales, will, reportedly, build online platforms so as to serve the markets of the US and Europe.
Notably, 20 per cent of Percival’s sales today comes from abroad – evenly distributed between its US and EU markets.
The £3 million investment was made from VGC Partners’ flagship fund of £50 million, which supports all early-stage and next-generation consumer/technology/digital media firms.
Back in 2018 also, VGC Partners had funded £150,000 million, which Percival had utilised to establish its supply chain as well as further develop its online infrastructure.
Owing to the funding, the brand was then able to double its year-on-year net sales, thereby attaining its 2022 target 2 years in advance – and that too with a profit margin of 55 per cent.
Based in East London’s Hackney, Percival is known for its shirts, tees, outerwear, trousers and more.
