Online fashion platform Atterley on track for 150% sales growth
Aug 30, 2019
Edinburgh-based Atterley has announced it is on course for sales growth of 150% this year after seeing sales double in 2018.
The brand was relaunched as an online marketplace for independent boutiques in 2016 by entrepreneur Michael Welch. Over the past three years, the site has signed 200 boutiques and currently offers 1,300 brands online.
Non-EU sales now make up over 30% of Atterley’s revenue.
According to media reports, the brand’s owner is planning to launch a series A funding round to further support the platform’s growth, after it secured a multi-million dollar investment from clothing manufacturer PDS Multinational Group last October.
“A series A funding round is our next step now that we are confident we have established a solid base to scale profitable sales from. I’d anticipate early stage discussions with VCs and strategic investors as early as November this year,” founder and chairman Mike Welch said.
“We’re excited to see Atterley start to scale, underpinned by a hard-working team who remain focussed on keeping the boutiques and our UK and international customers front and centre of everything we do.
"It’s gratifying to see that reflected in both sales growth and how highly we are rated for customer experience. Of course, our successes to date are underpinned by our network of boutiques and we’d like to thank them for their continued support.”
Whilst the majority of Atterley’s boutique partners are based in the UK, the company has been engaging with more European independents to expand its offering. And last year it launched an AI-powered image search tool that allows users to search for items by uploading photos.
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