Kick Game raises £2.5 million to further fuel its rapid growth
London-based luxury trainers retailer Kick Game has raised £2.5 million from growth capital investor VGC Partners to further boost the business following a surge in online sales.
The start-up sells cult trainer styles from leading sports and footwear brands including Adidas, Yeezy, air Jordan, Off-White, Supreme and Nike.
Its flagship store in Kensington was forced to close its doors earlier this year in line with the government’s Covid-19 guidelines, but Kick Game’s co-founder Rob Franks said the retailer has continued to see strong sales online.
“Our online sales have moved up a notch in the past couple of months,” he told PA Media. “We’ve had to take stock of plans when it comes to stores but I’m still very bullish about where we are given the circumstances.
“The demand is certainly still there. Despite everything, people aren’t able to spend money going out or eating out and that means the money is still there to buy clothes and sneakers.”
The funding will be used to further develop the company’s online platform and deliver bespoke products. Additionally, the firm is considering opportunities to expand its retail portfolio, although Rob Franks said the plans will be delayed until there is a more clear idea of how Covid-19 will impact high street trading.
He said: “We are ready to reopen as soon as we are allowed. But it’s just hard to predict how many people are going to be coming into the shop each day.
“We’ve previously seen plenty of business from wealthy people coming to London from abroad in the summer so that’s something you have to expect to change.”
The store helped Kick Game increase total sales by 47% year-on-year in 2019.
As part of the funding deal, VGC Partners founder and managing director Parminder Basra will join the Kick Game board.
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