LONDON — Atterley Road, the London-based online retailer, said it has secured funding of 2 million pounds, or around $3.3 million, from a consortium of investors made up of The William Currie Group, Sir Terry Leahy, Robert Willett and the fund management firm Artemis.
The retailer, which focuses on contemporary, accessible labels such as Day Birger Et Mikkelsen, Whistles and Second Female, said it will use the funds both to expand its brand in the U.K. and internationally, and to grow its Atterley Road own label collection. Edward David, Atterley Road’s ceo and co-founder, said that he is particularly focused on launching dedicated sites for the U.S. and Australia over the next few months, after having seen significant traffic to the site from those two countries. David noted that customers in both those countries are attracted to the retailer’s mix of European labels.
David, who founded the site in 2011 with Katie Starmer-Smith, also plans for the brand’s own label collection to grow “aggressively.” “It’s currently five to ten percent of our business, but we want it to become 50 percent,” he told WWD. Starmer-Smith, who serves as creative director of the retailer, was a former designer at Jigsaw.
David noted that the new investors’ “proven experience in retail and e-commerce will be critical to the development of the brand over the next few years.” The William Currie Group specializes in investments into retail and consumer companies and its past investments include stakes in Asos.com and The Fragrance Shop.
Leahy is a former ceo of Tesco who now invests in and advises entrepreneurial businesses, while Willett is chairman of the delivery management firm MetaPack and acts as an investor and advisor to several retailers within the e-commerce sector.
Bill Currie, chairman of the William Currie Group commented: “The team at Atterley Road…have the right foundations in place to build a great e-commerce business and we are looking forward to working with them to achieve that.”