The Business Growth Fund (BGF) has invested £6.25m into premium watch brand, Christopher Ward, to support its ambitious growth plans.
With its head office Maidenhead and a workshop in Biel, Switzerland, the business now employs 45 people, processing 22,000 orders per year and generating sales of £10.5m.
The eqity investment from BGF will support Christopher Ward’s long-term growth strategy, providing the capital and resource to expand the watchmaker’s market presence and product lines.
Founded in 2005 by Mike France, Chris Ward and Peter Ellis, Christopher Ward has grown to become the Ƶ’s leading direct-to-consumer watch brand, with customers in more than 100 countries.
The brand specialises in mechanical and quartz watches, that are designed in the Ƶ and manufactured in the home of horology, Biel.
The firm's chief executive and co-founder Mike France, said: "Our raison d’etre at Christopher Ward, the reason we get out of bed every morning, is to work towards giving as many people as possible the opportunity to experience the visceral pleasure of owning a finely-crafted, hand built premium watch.
“We’ve made great progress in fourteen years, establishing really solid foundations and feel the time is now right to “spread the Ward” to even more people worldwide.
“The team at BGF understood this, are as excited as we are about creating a truly great brand and business and we are delighted to have them as our partner for the next phase of the journey.”
James Austin of the BGF joins the board of the company following the investment.
He said:"We’re really pleased to be joining the team at Christopher Ward, a fantastic example of great British entrepreneurialism, becoming a truly credible player in the luxury watch market over the last decade.
"With a simple mission and a focus on producing quality products at fair prices, it has developed a strong track record and reputation among its loyal and growing customer base.
“We’re looking forward to working with an experienced team to build Christopher Ward into a globally recognised brand. The South East of England is teeming with ambitious businesses like this and we’re excited to welcome another company from the region into the BGF portfolio.”
