Kelvin Vidler, the former chief executive of young fashion brand house Americana International, has joined forces with Nayan Majeethia, a director of young fashion brand Cheeky Monkey, to snap up a 20% stake in T-shirt brand Deviant Rocks.
Vidler and Majeethia have together invested £125,000 in the brand, which is targeting sales of £1m over the next year.
Deviant Rocks, which is popular with celebrities including Peter Andre, was founded by Darren Law and Edward Smith in March 2009. It has turned over about £100,000 to date, according to Vidler.
Law and Smith hold the remaining 80% of the business but Vidler and Majeethia have the option to acquire an additional 20%.
Deviant Rocks is currently sold through a transactional website at www.deviant-rocks.co.uk. However, Vidler said he would sell the brand at wholesale from spring 11 and wanted to establish 60 to 80 UK accounts in the next year. He plans to target stores such as young fashion indie Duffer Menswear in Preston, branded young fashion chain Bank and department store Selfridges.
Retail prices for the range, which comprises T-shirts, hoodies and dresses embellished with Swarovski crystals, range from £80 to £280. Wholesale prices will start at £27 and go up to £90. Vidler will also introduce a lower-priced range of T-shirts with wholesale prices from £14.Vidler, who launched men’s young fashion brand Convict in May, said: “It’s an exciting brand. It’s got a lot of glitz and glamour and it’s already associated with celebrities. While there are difficulties in the market, it’s still a great time to enter and, by the time the market improves, it will be an established brand.”