Sophia Webster, a British accessories brand, has secured £4 million ($4.8 million at current exchange) in venture funding.
The investment came from the Business Growth Fund.
As part of the funding, Peter Williams, the non-executive chairman of Boohoo, former CEO of Selfridges and former non-executive director of ASOS, has joined the brand’s board. He has been appointed non-executive chairman of the accessories company.
Sophia Webster founded her company in 2012 with buzzy acclaim as a handbag and footwear line with the help of her one-time boss Nicholas Kirkwood and his former business partner Christopher Suarez. The brand has wide range of styles that combine Webster’s feminine design and a sophisticated approach.
“I met Nicholas and Christopher during the first year of my MA,” Webster recently said in a Matches Fashion feature. “I began interning with Nicholas and eventually assisting him. We decided that after two years of working for him, Nicholas would help me to start my brand. I learned so much in that time that as a result, I was able to begin my line with a lot more confidence.”
Since her 2012 launch Webster opened the brand’s first standalone store in May 2016 and has expanded the line with children’s and bridal shoes.
Webster was awarded the BFC Vogue Fashion Fund in 2016, becoming the second shoe designer in history to receive the award and the shoes are now stocked in over 200 retailers worldwide.
The new investment will be used to accelerate the brand’s international presence through partnerships, additional retail locations and continual growth of e-commerce sales.