Sign of the Times has secured new investment with off-price online retailer BrandAlley, along with personal investment from Sweaty Betty founder Tamara Hill-Norton and Sarah Welsh, chief executive of N Brown PLC.
In a statement, Sign of the Times said that BrandAlley represents 50 per cent of the investment round, and as part of the deal, will form a strategic alliance with the business. This will include Sign of the Times providing BrandAlley with a white label “take back service” as BrandAlley builds its long-term sustainability and circularity.
Sign of the Times which was founded in 1976, specialises in pre-loved designer goods from top brands, including Chanel, Prada, Gucci and Ganni, backed by specialist authentication and valuation services. It operates 10am daily drops on its website and carries more than 5,000 products online and a further 2,000 pieces in its Chelsea store.
The funds from the latest investment will be used for marketing and strategic hires, as well as for its acquisition of certain assets of Cudoni in August as it becomes one of the largest luxury resellers in the UK. The addition of Cudoni provides Sign of the Times with 35 per cent database by growth.
Antonia Johnstone, owner and chief executive of Sign of the Times, said: “At Sign of the Times, we believe strongly in the circular economy, and we are thrilled that BrandAlley has the confidence in our brand and the resale market to invest with us.
“Sign of the Times has grown by 300 per cent in the last three years and we are looking forward to working strategically with BrandAlley in the future to achieve our ambitious growth goals.”
Commenting on its investment and partnership, Rob Feldmann, chief executive of BrandAlley, added: “At BrandAlley, we provide our customers with the very best designer brands at amazing prices. Increasingly we are using innovative new technologies and channels to maximise customer experiences whilst providing the best purchasing opportunities.
“Our decision to invest in Sign of the Times was twofold; In addition to their brilliant track-record and highly experienced teams, they are market leaders in their circular approach. This mindset aligns with our long-term vision to grow our business in a sustainable and circular way. We look forward to working with Antonia and her highly experienced team to drive our strategic objectives going forward.”
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