Footwear brand Irregular Choice is seeking investment to help fund retail expansion into new territories.
Irregular Choice, which has 136 UK accounts as well as standalone stores in London, Brighton and New York, is courting private equity companies including Clearwater and Piper to help it open two to three stores per year over the next 10 years. The brand also opened a shop at the new Boxpark scheme in London this month.
Irregular Choice founder Dan Sullivan declined to comment on how much investment the women’s and men’s footwear brand was looking for, but said he aimed to secure the funds next year.
He said the business wanted outside investment because it would be unable to “grow as quickly” without it. He added: “We’re on a crest of a wave and we want to maximise it.”
The brand, which made a profit of almost £2m in the year to January 31, 2011, up from £1.3m the year before, will open its first store in Hong Kong in January.
The 1,000 sq ft store on Fashion Walk in Causeway Bay will be followed by store openings in Paris and Dublin next year. Stores in China are also being mooted via a franchise partner.
In March, Irregular Choice will launch a 20-strong women’s footwear collection, dubbed the Dan Sullivan Collection, which will be a more creative, higher-end and limited edition range made from higher-quality materials.
The collection, which will initially be available in Irregular Choice stores and on its website for spring 12, will retail for between £180 to £300, compared with £60 to £100 for the Irregular Choice mainline, before being rolled out to select wholesale partners for autumn 12.
As well as footwear, Irregular Choice also offers handbags and a limited womenswear range, plus women’s sneaker range ICED.