LONDON — British sustainable label Beulah London said it has raised 500,000 pounds, or $711,337 at current exchange, from London-based venture capital firm Mustard Seed.
The company said the investment would enable it to expand overseas and into wholesale.
“I think a big area of growth will come from online so [we are] investing in digital marketing,” cofounder Natasha Rufus Isaacs told WWD. “Now with this new investment we really want to focus on producing more product, to have a stronger social impact and that can have a big effect on disadvantaged women’s lives.”
The British brand has one store on Ebury Street in Sloane Square and an e-commerce site. The brand declined to disclose overall revenue, but noted revenues were evenly split between bricks and clicks last year, according to Isaacs.
The label is known for its ethical range, which includes coats, dresses, tops, jackets, skirts and accessories. It established Beulah Trust in 2013, which aids victims of trafficking. The company also aims to help provide jobs for trafficked or vulnerable women.
“These are strong teams that care equally about running successful businesses and the positive impact their work engenders as their businesses grow,” said Henry Wigan, Mustard Seed’s investment director.
“Just as we were closing these deals in March, a lot of discussion arose following International Women’s Day around unconscious bias, the gender pay gap and a lack of women in top management. For us, regardless of the race, creed, gender, or if the founder is clad in a hoodie or not, if we’ve got a compelling investment opportunity in front of us that makes money and creates positive societal impact, we want in,” said Mustard Seed associate Carrie Babcock.
Natasha Rufus Isaacs and Lavinia Brennan launched the London-based brand in 2010. The Duchess of Cambridge wore the label during her visit to New York in 2014. The duo was awarded a commendation in 2010 and 2013 by the United Nations for their work to fight human trafficking.