British lingerie label Mimi Holliday, part of the Damaris Group of brands, is embarking on a funding round to raise growth capital, Lingerie Insight has learned.
After 14 years in the industry, founder and designer Damaris Evans wants to maximise the group’s potential, in particular the Mimi Holliday business, which remains the mainstay of the revenues, positioned as it is in the affordable luxury sector.
Ironbridge Capital Partners has been appointed to run the process, which will include dialogue with both private, trade and institutional investors.
“Now is the right time, to grow and build the business throughout the world, with the right partner who shares our vision for the brands,” said Evans.
Already stocked in major UK stockists such as Fenwick, Selfridges and House of Fraser, Mimi Holliday intends to use the funds to grow its international distribution.
“The time is right for us to move forward with these incredible products, and properly announce our intention to bring high quality, incredible fits and a genuinely cool aesthetic to women around the world,” said Sarah Jenkins, head of communications and strategy at Damaris Ltd.
“Mimi Holliday is a best-friend brand, designed for women,” she added.
The investment is also set to help Mimi Holliday expand its product offering, which already includes lingerie, swimwear, loungewear and Max Holliday menswear.
Without giving too much away, Jenkins said there are “a lot more” projects planned for the future.
“We’ve tested the markets by expanding our product offering, this investment is needed to meet customer demand for the world of Mimi Holliday,” she said.
Mimi Holliday’s announcement follows the news that it has restructured its internal sales team.
Damaris Ltd said in October that it has created a new team with divisions split between global, the UK and new business development.
Louisa Jarman has been appointed as head of global sales, overseeing all sales, online and offline, with a special focus on the management of agents, distributors, and existing accounts located far and wide.
Jarman has worked with Damaris Ltd for 14 years and will also continue to lead the in-house team.
Meanwhile, Yasmin Ward has been appointed to head the brand’s UK wholesale offering as United Kingdom account manager, and will take over from Jarman as the chief point of contact for all UK-based sales enquiries.
Ward has been promoted from a position in sales and marketing, and has been with the business for two years.
New to Mimi Holliday, Nicola Preston has been announced as global business development manager.
She joins Damaris Ltd from Marks & Spencer and Debenhams, where she worked as a senior buyer.