Independent luxury kidswear etailer AlexandAlexa has received an investment of £1.5m to drive international expansion.
Venture capital firm MMC Ventures has taken a significant minority stake in the business which sells luxury kidswear brands online including Ralph Lauren, Burberry, Little Marc Jacobs and Junior Gaultier.
Rory Stirling, investment manager at MMC Ventures, said AlexandAlexa had seen significant growth since it launched in 2007. He added: “AlexandAlexa has a strong track record in the retail sector and we look forward to driving international expansion and taking the business to the next level.” Through international expansion the company is forecast to turnover £40m by 2014.
Belinda Earl, chief executive of Jaeger and Aquascutum sits on the AlexandAlexa board as a non-executive chairman. She said the investment was a “testament to the strength” of the brand and added she expected the business to more than double in size in the next 12 months.
Alex Theophanous, founder and chief executive said he was “incredibly excited” to see the website develop into a global brand in such a short period of time. He added: “We continue to take an active role in leading the business with the strong management team and we are confident about accelerating the brand proposition further, over the next five years.”