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By Caprice on hunt for backers to fuel growth

Lingerie label By Caprice is seeking investment of up to £4m to fund entry into the US market and the launch of a retail arm.

Model Caprice Bourret, who wholly owns the company, told Drapers she would prefer to work with private equity partners but would also consider backing from retailers, provided they did not demand too much control over operations.

She said: “The business is debt free and profits have shot up since January so it’s a strong proposition.” Bourret said profits were up about 40% and turnover 20% year on year since January.

Bourret wants to launch By Caprice into between 10 and 20 US department stores and US indie wholesale accounts in time for phase two of autumn 10 deliveries.

She added: “I need funding to run a huge marketing campaign [in the US] and to employ a manager and a sales rep to run the business there.”

Following investment, Bourret also plans to recruit a UK managing director and buying manager.

“My speciality is marketing and sales but at the moment I’m doing everything,” she said. “I want to focus on growing the business.”

By Caprice, which has 60 UK wholesale accounts including Dorothy Perkins and Lipsy, is also plotting retail stores but numbers and locations are yet to be finalised.

“I want standalones in the UK and the US but I need to see where the biggest [wholesale] growth comes from before I decide where to look first,” said Bourret.

By Caprice is working on the launch of a maternity lingerie range for spring 11 and has designed exclusive casualwear and bedding ranges for home-shopping retailer Littlewoods, which will launch next month.

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