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Investors tempted as Strutt Couture seeks growth funds

Footwear brand Strutt Couture is being circled by investors looking to snap up a minority holding in the business.

The company is seeking funds to support international expansion plans and is courting several interested parties, including a venture capitalist firm and a private investor, both of whom have made approaches for the UK-based label.

Strutt Couture confirmed it is in advanced talks with both parties, with a mooted £500,000 being offered for a minority stake. A deal is expected to be signed by June this year.

The brand launches in the US and Middle East next year. Its founder and chief executive Ian O'Connor, who until launching Strutt three years ago had no footwear experience, told Drapers that it was also looking to open its first standalone retail store. The store, which will be about 1,500sq ft, will be in London, although a more specific location is yet to be finalised.

O'Connor said: "We are looking for financing in the medium term to help expand the business, but also to offer growth from a strategic perspective. A company with an international retail structure in place would be most attractive."

Strutt Couture has 75 stockists in the UK, including Kurt Geiger, House of Fraser and Asos.com, as well as 15 international accounts. The label started its global push in autumn last year when it signed up with fashion agents Concorde, SFFT Agency Commerciale and Pure in France, Russia and Germany respectively to handle market distribution.

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