Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Exclusive: Austin Healey’s menswear etailer gains investment

Online designer menswear outlet, LabelSneak has obtained a £525,000 investment to boost its marketing and help develop the business.

The etailer, which boasts former Rugby England player and Strictly Come Dancing star Austin Healey as an equity partner, received the investment from the North West Fund for Venture Capital and will use the capital to further grow the business after its launch last year.

Chief executive Ade Shannon is working with technology company IBM to develop a new e-commerce platform for the company, which has also just moved into a new 8,000 sq ft warehouse in Bromborough, Wirral.

LabelSneak started out as a store on eBay in 2011 and has since developed its own website with over 50,000 registered members. It targets 18 to 36 year olds and works with fashion and sportwear brands to snap up excess stock, which it sells on at up to 80% discount.  Its first e-bay pilot saw 2,500 discounted designer polo shirts sell out in three hours.

Shannon said: “While there are some very successful designer outlet sites, LabelSneak is different in targeting brand-aware men. We are continuing to expand the variety of products we offer by negotiating arrangements with different brand owners. Our ultimate aim is to become the preferred clearance partner for the world’s leading menswear brands.”

Will Clark, investment director at EV, which manages The North West Fund for Venture Capital, called LabelSneak a “unique concept” with an “innovative business model”.

He continued: “The funding will allow them to boost their marketing and further develop the business through the development of an innovative web platform in conjunction with IBM.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.