Oct 28, 2016
2 minutes
The Idle Man scores investment from Channel 4
Oct 28, 2016
Online men’s retailer The Idle Man has received a “significant seven-figure” investment from Channel 4's Commercial Growth Fund to help accelerate its growth through TV promotion.
The investment will see Channel 4 launching the brand across its marketing platforms. The Idle Man’s first ever TV ad campaign debuted this week.
The Commercial Growth Fund offers high growth potential brands the opportunity to advertise on TV in exchange for an equity or revenue share in the business.
"We are very impressed with The Idle Man's management team and its recent strong growth, and are delighted to be working with them. We believe that TV driven brand awareness across our Channel 4 network will help expose this burgeoning business to our core young, upmarket audience, particularly as they invest more deeply into their brand,” commented Vinay Solanki, Head of Channel 4's Commercial Growth Fund.
The online destination for fashion-savvy men aged between 25 and 35 launched just over two years ago. Since its inception, it has seen year-on-year growth of over 100% in sales and a 500% growth in visits to the site. Its growth has attracted interest from a number of investors, with the last founding round led by private equity firm Foresight Group raising £1.4 million.
Alex Outlaw CMO of THE IDLE MAN commented "We are delighted to welcome Channel 4 to our investment portfolio. Their backing, alongside Foresight Group and prominent angels is proving transformational for The Idle Man, and will allow us to continue our ambitious expansion plans for next year and beyond.”
"Our second year of trade has been an amazing success, our customers are now fully engaged with us and it's been exciting to see our company progress in a relatively short period of time to be in such a great position,” added Oliver Tezcan, CEO & Founder.
The TV ad campaign showcases the brand’s no-nonsense approach to fashion with an edit of wardrobe staples and winter styles.
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