Footwear retailer Soleheaven is putting together a management board, as it eyes rapid overseas expansion within the next five to six years.
The retailer, which currently trades in 60 ecommerce markets, plans to open a flagship store and ecommerce distribution facility in the US as the first phase of its overseas plans.
This would be followed by a similar initiative in southeast Asia starting in 2021, with Hong Kong highlighted as a key gateway market.
The business is seeking £4.5m for its international roll-out, and is in advanced talks with venture capital trusts on funding its plans.
Managing director Dale Parr told Drapers: “We’re at a crossroads now, where I’m still the 100% shareholder and director. I have trusted company advisers around me, but we’re moving into a stage where we’ll be venture-packed for rapid expansion, so I have to make sure I can [put together] a board that has a range of digital, retail, financial and international expertise and contacts that can help me scale the business.”
Parr said the company has seen sales grow 26% year-on-year in January to £1.8m.
Soleheaven was founded in 2009, and currently employs ten staff.
It is headquartered in Newcastle, where it operates a store.