British womenswear label Temperley London has secured £1.8m in funding, as it seeks to turn around its fortunes.
The money was raised from existing shareholders, which include Alice Temperley herself, as well as banker Rupert Hambro. Backers have invested an additional £3m since 2015, with this latest boost set to support “significant” growth in online and wholesale, according to the Daily Mail.
Losses at the brand slumped to £2.8m in 2014, despite celebrity endorsements and a tie up with John Lewis for the Somerset by Alice Temperley range.
Since then however, the designer’s fortunes have improved with a 5% revenue boost, sales of £11.7m, and a decrease in losses to around £200,000 in 2016.