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Resale brand Cudoni secures £1.4m backing

Luxury resale brand Cudoni has received £1.4m worth of investment to support its international expansion plans.

The backing comes from founder of men’s retailer Charles Tyrwhitt, Nick Wheeler; Lord Mervyn Davies, chairman of the Lawn Tennis Association; Matt Cooper, founder of Capital One bank; and Giles Brook, CEO of coconut water brand Vita Coco.

The investment will help the brand launch into international markets, as well as developing existing technology to assist with business efficiency and expanding its current team.

Founder James Harford-Tyrer said: “The investment will allow (Cudoni) to continue our rapid expansion at a time when we are moving towards a more sustainable way of living and the resale industry is thriving.”

Cooper was appointed as Cudoni chairman following an initial five-figure investment in May 2017. He has since upped his investment to six figures and will work closely alongside Harford-Tyrer to “offer guidance and expertise to steer the business into the next phase”.

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