Causeway Capital takes controlling interest in In The Style
Private equity fund Causeway Capital is understood to have acquired a controlling interest in online fashion retailer In The Style.
The Irish fund, set up in 2016 to support Irish and UK SMEs, paid just £2.5 million for the stake, reported The Sunday Times.
In The Style is a fast-fashion brand headquartered in Manchester which has been endorsed by British reality TV stars such as Love Island’s Dani Dyer and Made in Chelsea’s Binky Felstead.
It has revenue of over £20m, and over 2 million direct social media followers. Led by founder and CEO Adam Frisby and COO Paul Masters, who previously worked at Missguided and Bench, the business reaches over 25 million social media users through collaborations with influencers.
In 2017, it signed a £5m investment deal with Livingbridge Venture Capital, reportedly reaching a valuation of £50m.
Causeway Capital has also invested in Bakers + Baristas, a fresh bakery and coffee operator; Bizimply, an Irish cloud-based company; Celtic Linen, a commercial laundry business; and Turmec, a company specialised in manufacturing and installing recycling plants.
Copyright © 2021 FashionNetwork.com All rights reserved.