Originally published in Business Live, Retail News UK, Retail Times, Manchester Evening News, Retail Week, The Industry Fashion and more. See below for the official press release.
Leading investment and innovation firm True is pleased to announce its strategic investment in Apparel Brands Limited (ABL), a UK-headquartered business specialising in the sourcing, design and distribution of Branded apparel and accessories to third parties and through its network of directly operated websites, as well as the licensing and development of branded apparel through its intellectual property portfolio. Through this investment True will accelerate the growth and expansion of ABL’s brands domestically and internationally. ABL has seen strong profitable growth since inception, growing at a 3-year CAGR of 52%.
Led by Peter Wood, Founder and CEO, ABL has successfully positioned itself as an important partner for retailers. True's investment will provide ABL with the necessary resources, expertise, and strategic guidance to scale its operations through the acquisition of branded intellectual property, alongside channel and category expansion to enhance the growth opportunities available to the business.
“There is a defensible model at ABL and we see a compelling opportunity to rapidly scale its branded offering by adding complementary properties to its existing portfolio across different price points from value to premium”, said Ejike Onuchukwu, Director at True, who led the investment process. Paul Cocker, CEO and Co-Founder of True added "We’ve been developing our relationship with ABL over the past couple of years and are excited to partner with Peter and the team, supporting their relentless focus on providing value to their customers."
“I am delighted to partner with True,” said Peter Wood. “Their deep understanding of brands and the consumer and retail market, coupled with their vast experience in nurturing and scaling successful businesses, will be invaluable as we embark on our next phase of growth."
True is leveraging its extensive consumer and retail senior executive and adviser network and will be supported on this investment by industry veteran Carl Davies, CEO at Perry Ellis Europe as a Non-Executive Director. Carl’s deep commercial, operational, and strategic expertise across a range of categories, channels, markets, will be a great asset to the business as it executes its long-term plan.
About Apparel Brands Limited (ABL):
Incorporated in 2017, ABL is a leader in the sourcing, design, and distribution of Branded clothing and accessories, for men, women and kids. Its broad customer base covers multinational retailers and independent boutiques serving customers at various price points throughout the UK, Europe, North America and Middle East.
Its portfolio includes internationally recognised and distributed brands both directly owned and under long term license including Bench, Nicce, Farah, Ed Hardy and Seafolly.
ABL recently won North West Fastest Growing Medium Business for 2023, in partnership with Greater Manchester Chamber of Commerce.
For more information, visit https://www.apparelbrands.co.uk/about
