Furniture retailer/cataloguer Dwell has secured a £5 million
investment from private-equity firm Key Capital Partners. KCP
will take a minority shareholding in the business as it ramps up
its retail presence from 19 to 52 stores by 2014. Total sales
from Dwell’s high street, online and catalogue channels were
£25.8 million in the year to 31st January 2010.
During the year, Dwell made a significant investment in its
senior management team in order to drive its four-year expansion
strategy, boost operational efficiencies and enhance
profitability. Neil McCausland, current chairman of Kurt Geiger,
TJ Hughes and Skin Clinics, was appointed as chairman, while
Simon Tutt joined as finance director, having previously held
roles at women’s fashion retailer Elvi and furniture retailer
Harveys. Robyn Clifford, former head of buying and merchandising
for own-brand products at luxury department store Harrods, joined
as buying and merchandising director.
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