Stubble & Co, one of the UK’s fastest-growing lifestyle brands, has secured a “multi-million-pound” investment from consumer-specialist investment firm Growth Partner, backed by HomeServe founder and chairman Richard Harpin.
In a statement, Stubble & Co, known for its functional and stylish bags, said that Growth Partner has taken a “significant minority stake” in the company as it looks to continue driving growth to become a “leading global lifestyle brand”.
In the last three years, the brand has bucked all retail trends and achieved sustained triple-digit growth, delivering consistent profitable growth with an exceptional sales CAGR of 173 percent, and adds that its business is on track to achieve sales of 10 million pounds this year.
Stubble & Co, founded by husband-and-wife Victoria and Ben Watkiss, is hoping that this investment will allow the brand to position itself as a global e-commerce frontrunner with aspirations of surpassing 100 million pounds in annual sales.
Commenting on the investment, Ben and Victoria Watkiss, said: “We’re exceptionally proud to have built Stubble & Co into a 10-million-pound profitable brand without outside investment, but we also believe the right partner will help us grow further and faster.
“As our growth continues to accelerate, now is the perfect time to bring in this major investment from Growth Partner to support the next phase of our development. The experience and network from Richard and his team are going to be invaluable as we build a globally recognisable brand.”
Alex Marsh, partner at Growth Partner, added: “Consumers now demand so much more from brands than just ‘a good product’. Stubble & Co is a shining example of a brand that not only focuses on developing amazing products with exceptional customer service, but it has also prioritised a brand responsibility towards ‘doing the right thing’, which is a huge credit to Ben and Victoria.
"They are building an exciting purpose driven brand, empowering their customers to ‘Do. More’. We’re extremely proud and excited to be partnering with Ben and Victoria.”