Immaculate Vegan secures new funding to drive growth in key markets
High-end online fashion and beauty retailer Immaculate Vegan has secured £400,000 in its first investment round on the back of impressive revenue gains. The new funding will help it drive future growth in its key target markets, the UK, US and Europe.
True to its name, the two-year-old digital firm sells only 100% vegan fashion, beauty and lifestyle products from over 100 brands featuring thousands of ethical, sustainable products.
With year-on-year revenues trebling and current Q2 trading ahead of target, founding director Annick Ireland said the funding “would help take the business to the next stage”.
The extra capital will be also be used to develop the platform and launch major digital marketing campaigns to drive new customers to the site.
“We’re already seeing huge growth in consumer demand for ethical and sustainable alternatives that are still beautifully designed, high quality and stylish, and Immaculate Vegan perfectly fulfils that need,” she said in a statement.
Rohallah Ghasemi, investment executive at SFC Capital, which is one of the new backers, said there was a gap in the market for “a trusted marketplace with curated products like Immaculate Vegan.
“Brands and manufacturers are fast replacing their product range with more sustainable alternatives, especially in beauty products and fashion,” Ghasemi said. “This is an opportunity that Immaculate Vegan has seized and we are pleased to be backing their great team to help continue their growth”, Ghasemi added.
Other investors included Bran Investments, and Beyond the Polaris.
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