Boardsports etailer Extremepie.com has secured a £50 million investment package from its parent company Extreme Group and private equity firm Aspen Capital.
Following the investment, Extremepie has appointed its first managing director, former Fat Face director Brian Campbell-Kearsey. Campbell-Kearsey will lead a relaunch of the website this autumn which will include a complete overhaul of its brands. It currently stocks Ripcurl, O’Neill, Vans and Roxy.
Campbell-Kearsey said: “With the funds in place, Extreme felt it was the right time to expand. We are looking at our brand portfolio and mix. We currently have more than 20 brands online, but are looking to increase this by 25% in the next year.”
Extreme Group is seeking to capitalise on the lucrative online market and the booming surf-inspired lifestyle market, which takes in Fat Face and White Stuff. Etail sales are expected to grow by 32% this year, according to research firm Verdict Research.
Campbell-Kearsey said that Extremepie’s sales were up 26% like-for-like and it aimed to become the UK’s number one lifestyle and boardsports etailer.
Extremepie will also expand its White Label service, which offers logistics services for brands’ own websites. Campbell-Kearsey added that Extremepie would look to acquire other online businesses.