The 海角视频's first and only women's outdoor wear brand has closed £3m in investment. ACAI Outdoorwear, which is headquartered in north Wales, has secured the financial support from consumer-focused investment firm Growth Partner which is backed by HomeServe founder and chief executive Richard Harpin.
Yorkshire-based Growth Partner has taken a minority stake to help accelerate ACAI's growth plans in the 海角视频 and internationally. ACAI's previous investors, DSW Ventures, will be stepping away having supported the business since October 2019. This exit has achieved a net cash return of 4.2x for the DSW Ventures investors.
The investment will support the acceleration of strategic opportunities for ACAI to grow internationally, launch new products and expand from the direct-to-consumer channel. Growth Partner investment director James Worrall led the deal for Growth Partner and joins the board as non-executive director.
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ACAI was founded in 2016 by fashion designer and entrepreneur Kasia Bromley with husband, Joe. The firm has seen exceptional growth with ACAI, doubling revenue each year since it began and growing its staff to 25 over the last three years.
Following ten times revenue growth since March 2019 and investment into the management team this year, Mr Bromley has stepped down as chief executive. He is succeeded by Richard Leedham (former Berghaus CEO and Pentland Group Executive Board member) who will lead the company in its next phase of growth.
Creative director Ms Bromley created the brand after seeing a need for innovation in women's outdoor clothing, having been frustrated by the existing attitude which was based on a male product which had been 'pinked and shrinked'. She created designs that were flattering and empowering to the female form while also being stylish and technical.
Led by its hero product the skinny outdoor trouser, the brand has expanded to include outdoor leggings, tops, accessories and recently launched its first jacket, hoodies and mid-layers.
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Ms Bromley said: “My mission is to inspire more women to get outdoors to enjoy nature for their mental and physical wellbeing. Women deserve outdoor clothing which makes them feel great and performs to enhance their confidence. This investment will support ACAI to reach many more women. I am delighted to be partnering with Richard, James and the Growth Partner team to accelerate ACAI’s growth”
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Mr Worrall said: “ACAI operates in the Outdoorwear market which has experienced significant growth but is yet to be disrupted by a direct-to-consumer challenger brand. ACAI’s products being functional and technical in nature whilst being stylish and flattering to the female form are revolutionising the outdoorwear market.
"ACAI has successfully created a community of highly engaged brand advocates where ACAI is more than a product, it is a brand that is empowering women to be active outdoors. We’re extremely excited to be partnering with Kasia, Joe and the team to support them as they introduce the brand to more customers across international markets and via new sales channels.”
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