Manchester fashion e-tailer In The Style targets £50m turnover with PE investment

Growing online fashion e-tailer In The Style is set for expansion after landing significant investment from private equity firm Livingbridge.

Manchester-based In The Style will use the cash to take on new staff and move into the American and Australian markets.

It will also use the investment to upgrade its IT and infrastructure, expand its warehouse operations and make senior appointments across its IT, finance and marketing departments.

In The Style currently employs a team of 80. The firm more than doubled sales to £15m last year but plans to achieve revenues of £50m in the next three years.

Established four years ago by chief exec Adam Frisby in his bedroom, the company has adopted a social-first approach to marketing and now boasts over 1.4m direct followers across its social channels.

Further, In The Style has access to a wider pool of 18m social media users through its celebrity collaborators.

Founder Adam partly attributes the popularity of his business to its royalty-based collaborations with a host of celebrities and fashion influencers, including MTV’s Charlotte Crosby, E4’s Binky Felstead, ITVBe’s Billie Faiers and fashion blogger Sarah Ashcroft.

Livingbridge’s growth capital investment, made using funds from the Baronsmead Venture Trusts, has seen the firm take a sizable minority shareholding in In The Style.

Adam Frisby said: “I am delighted to have secured this investment from Livingbridge.

“They are a great investor who understand fast growing businesses in our industry.”

He continued: “I set out to create a mobile first brand utilising social media influencers to bring people the very best fashion at affordable prices and I’m delighted that in just three years we have established ourselves in the market.

“I’m incredibly excited about the journey we are on.”

Livingbridge investment director Steve Cordiner said: “In The Style is a natural fit for us given our strong track record of supporting high growth retailers and online businesses.

“Adam has created a strong business with fast fashion expertise combined with a disruptive marketing strategy, collaborating with celebrities and other fashion influencers to deliver exactly what his customers want.”

He continued: “We believe the business has great potential and look forward to supporting In The Style as it continues its growth trajectory.”