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Koodos seeks expansion cash

Discount branded fashion etailer Koodos.com is courting investors to raise more funds as it plans to expand the business.

Koodos, which sells brands including 7 for All Mankind, Marc Jacobs and Paul Smith, isseeking investment of up to £6 million to help it expand its brand mix.

The company launched in December 2006 and was backed by venture capitalist Atlas Venture and former Agent Provocateur boss Robin Klein. The duo also plan to increase their investment in the company as part of the second round of funding early next year.

Koodos chief executive Miriam Lahage said she was also hoping to attract other investors. “There are a handful of companies that control the wallet share in this market and we’re a cheeky little upstart, but our model is now tested and customers love us,” she said. “We’re aiming to get between £3m and £6m of investment. We are going to triple the number of brands and aim to reach a turnover of £100 million in a few years.”

Last month Koodos opened sourcing offices in France and Italy. It has also appointed Amanda Metcalfe as marketing and communications boss. She was formerly ecommerce marketing consultant at Icelandic investor Baugur.

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