INDEPENDENT fashion retailer Sarah Coggles is to expand with a multi million-pound investment.
The York-based retailer, which runs a store on Low Petergate, York and website Coggles.com has sold a minority stake to Manchester Square Enterprises, the venture investment arm of Pentland Group.
The investment will enable the business to move closer towards its goal of being the leading international independent fashion and design retailer, said chief executive and creative director Mark Bage.
He said the funding will be put into increasing Coggles’ international presence, increase its buying budget for young and emerging designers as well as established brands and enable it to expand its infrastructure, including larger warehousing facilities and a new London office for its buying, PR and marketing teams.
Mark Bage said: “I am very pleased that the investment will see us continue the planned growth of Coggles.com and I am extremely happy for both the team who have worked very hard and who will now have the opportunity to achieve so much more.”
Richard Hatfield has been appointed as chief operating officer, a premium and designer brands buyer will join the board as buying director in February, head of marketing and financial director will also be appointed.
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