Indie slow fashion brand Novo gets cash injection
British ‘slow fashion’ producer Novo has secured a £65,000 investment. The Durham-based womenswear brand has received backing from the North East Small Loan Fund Supported by The European Regional Development Fund to underpin growth plans.
The indie business has so far recorded sales of more than £250,000 since a brand relaunch in autumn 2020 and is now aiming to increase that figure at least three-fold before the end of next year, as the business “becomes established alongside the best-known names in the luxury fashion sector”, reported Bdaily News.
Novo’s collections provide “core wardrobe essentials and elevated basics” with a focus on “timeless, interchangeable, made-to-last garments that can be worn for all occasions”.
Co-founded by Amy Whitfield and Rebecca Ward, the brand ships from its online store to more than 30 countries, with the US its second-biggest market. Pieces from its growing collection are also available in a number of high-end retail outlets in London, Edinburgh, Dubai and New Zealand.
Whitfield told Bdaily: “The last year has really seen the brand take off and we’re extremely ambitious to achieve a great deal more through the coming year and beyond.
“We’re also putting responsible and sustainable retail practices at the heart of what we do to help minimise our environmental impact through actions such as removing single-use plastic, using fully recyclable boxes and planning production volumes carefully to minimise waste.”
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