LONDON – Savile Row brand Richard James is seeking fresh investment in a bid to grow the business, from a retail, digital and geographical perspective.
The company has hired Ironbridge Capital Partners in London to seek a new strategic investment partner, with the search in its early stages, according to Sean Dixon, the company’s cofounder and managing director. Richard James, who founded the company with Dixon, remains a company director.
On the digital front, the company has tapped Martin Bartle, the London-based e-commerce veteran, luxury marketing and online retail consultant, and a director at Agent Provocateur, as an adviser. The brand also plans to use future funding to expand in the U.S. market.
Richard James, which specializes in bespoke and made-to-measure suits and carries a full line of accessories, has been self-funded so far. The company opened a store on Savile Row in 1992, shaking up the old tailoring houses with its unpretentious air and democratic approach to business, and was the leader in ushering in a new, more modern era for the Row with its slimmer-cut suits, bold colors and witty takes on traditional styles.
It has two stores on the storied street and a third in the City of London. It also sells online and at retailers including Mr Porter, Matchesfashion.com, Harrods, John Lewis and Barneys New York.
The company has a license in Japan with Itochu and is also looking to expand in the Far East. It has recently relaunched its fragrance on Mr Porter, and it will roll out to 167 stores. The runway collection, which shows on schedule at London Collections: Men, is designed by design and brand director Toby Lamb.