Women’s young fashion brand Little Mistress has set out ambitious plans to open 20 stores in the next two years following a cash injection from a private investor.
Managing director Mark Ashton told Drapers that Little Mistress recently received private investment from a silent party but would not disclose any further details, including the amount of investment or the identity of the investor.
Ashton only added that the investor was “amazed at [the brand’s] potential”.
The wholesale brand opened its first store in Westfield Stratford City on Tuesday with a 861 sq ft pop-up shop located next to Harvey Nichols.
The store will initially be open for four months but the brand may take up a permanent location in the shopping centre in the new year.
Ashton said the plan was to roll out the model to further locations, with the aim of opening 20 stores by the end of 2013. The stores will follow the same look as the Westfield shop, with white fixtures and walls, as Ashton said he didn’t want anything too “complicated, chavvy or contrived”.
The brand, which has 120 stockists including New Look and USC,
is scouting out locations including Guildford and Kingston. Ashton said that he would like to open a further two stores before Christmas.
Ashton said that he was confident about the Little Mistress offer. “Little Mistress has the number one sell-through and density figure in the majority of the accounts that we trade with. It’s literally flying out of the stores and there has never been a better time to open our own store.”
Its wholesale prices for the spring 12 collection range from £10 to £50.