Womenswear fast fashion brand Lost Ink is eyeing further expansion through a transactional website, growth in the US and China, and concessions.
The brand is seeking investment to support the development of a new website, which it aims to launch within the next eight months. It is currently only available to buy online through third parties, such as Asos.
“We are looking for additional investors as strategic partners to launch our own website in the next six to eight months,” co-founder Karina Mitchell told Drapers. ”We also looking to expand in the US, and China has huge potential for us. Then we would later look to expand into concessions, probably in Europe first.
“Alongside that, we are looking to build our brand profile, so we will be investing in social media and brand marketing.”
Lost Ink was founded in 2014 by Mitchell, who was formerly international buying manager for River Island, and her business partner Tilmann Roth, who previously worked at Boston Consulting Group.
It is part of Global Fashion Group (GFG), which operates fashion ecommerce platforms Dafiti, LaModa, Namshi, Zalora and The Iconic. GFG’s shareholders, Kinnevik and Rocket Internet, are also major shareholders in Zalando.
Lost Ink launched on Amazon last month and is also stocked by Asos, Shop Direct and Next in the UK. Internationally, its stockists include Anthropologie, Nordstrom, Bloomingdales and Urban Outfitters in the US, Bubbleroom, Navabi, About You and Wehkamp in Europe, and Al Tayer, Noon, Sivvi and Terminal X in the Middle East. It is also stocked on the GFG platforms.
The company has around 1,000 clothing and 400 footwear SKUs, with an average retail price of £45. The UK accounts for 20% of its £50m gross merchandise value for autumn 18, while Europe makes up 50% and the rest of the world 30%.
Lost Ink manufactures around 70% of its range in China, 20% in the UK and 10% elsewhere in the world.
- This story has been updated to correct an inaccuracy about GFG’s shareholders.