MMC makes new £1.5m investment in Alexandalexa.com
MMC Ventures has invested £1.5 million in luxury online
children's-wear retailer Alexandalexa.com
MMC Ventures (MMC), the growth company investor, has invested
£1.5 million in AlexandAlexa, www.alexandalexa.com, the UK's leading online
retailer for luxury children's-wear, selling premium brands such as
Ralph Lauren, Burberry, Little Marc Jacobs and Junior
Gaultier. MMC is taking a significant minority stake in the
business. The company is forecast to turnover £40million by 2014
through international expansion.
AlexandAlexa is a family owned business
that was founded in September 2007 by husband and wife team Alex
and Alexa Theophanous. Based in London, the duo set up the
business in order to bring the best of international children's
fashion, online. AlexandAlexa currently stocks over 75 luxury and
premium brands, offering fashion, shoes, toys, books and
accessories for children aged 0 - 12 years. The business
continues to focus on securing high-profile luxury and premium
children's wear brands. For Spring/Summer 2011 brands such as Baby
Dior, Stella McCartney Kids, Kenzo and Tommy Hilfiger join the list
of luxury labels the site stocks. AlexandAlexa are also the
exclusive online stockist for a host of premium brands for
Spring/Summer 2011, including Fred Perry, Baby ISSA, North Sails,
Napapijri and more.
According to recent data from market research site Mintel, the
global children's-wear market is worth £100 billion. The UK
currently accounts for only 5 per cent of the global market. The
online children's wear market continues to grow at a rapid rate, as
12 per cent of all UK children's fashion is bought online, up from
2 per cent three years ago (2007). In comparison, 18 per cent of
women's fashion is bought online, up from 12 per cent three years
ago.
Rory Stirling, investment manager at MMC Ventures who joins the
Board of the company comments:
"MMC Ventures invests in fast-growing UK companies and
AlexandAlexa is a unique business that has demonstrated significant
growth since it was founded in 2007. We work in partnership with
the businesses we invest in and we are able to offer operational,
financial and strategic support. AlexandAlexa has a strong track
record in the retail sector and we look forward to driving
international expansion and taking the business to the next
level."
Belinda Earl, chief executive of Jaeger and Aquascutum sits on
the AlexandAlexa Board as non-executive chairman. Belinda Earl
comments:
"Since joining the board in July 2009, I have been
incredibly impressed with the success of AlexandAlexa. This
important investment from MMC Ventures is a testament to the
strength of the AlexandAlexa brand and we expect the business to
more than double in size in the next 12 months"
Alex Theophanous, founder and CEO comments:
"My wife, Alexa, and I are incredibly excited to see
our online concept develop into a global brand over such a short
period of time. We continue to take an active role in leading the
business with the strong management team and we are confident about
accelerating the brand proposition further, over the next five
years."
