Beringea and The Clark Group are investing in Monica Vinader to aid the business in its efforts to open new UK own-brand shops and develop its international distribution.
A £2.5 million deal for Monica Vinader represents the second time that Beringea has supported the company following an undisclosed investment back in October 2010.
The transaction sees Beringea, the growth capital investor that manages the Proven Venture Capital Trusts, provide £1.5 million alongside £1 million from The Clark Group, the backers of Links on London.
The designer Monica Vinader began producing a jewellery line in 2002 and the company began trading in 2006. The brand has been featured in magazines such as Vogue and has developed a celebrity following including Keira Knightly, Cheryl Cole and Cameron Diaz.
Beringea and The Clark Group’s capital commitment will go towards establishing additional own-brand shops in the UK and fuel international distribution. Monica Vinader, whose management team is led by Monica and Gabriela Vinader, is stocked by high street retailers including Selfridges, Harrods and Liberty as well as e-commerce site Net-A-Porter.
Gabriela Vinader, operations director, comments, ‘Our management team is committed to unlocking Monica Vinader’s considerable multichannel and international potential.
‘We are delighted with Beringea’s continued support and look forward to welcoming the Clark Group.’
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Beringea, which has offices in London and Detroit, has portfolio companies including Steak Media, Tossed and Fjord.
As part of the deal, Clark Group CEO Steven Clark will be joining the board of Monica Vinader alongside existing member Karen McCormick, investment director at Beringea.
McCormick adds, ‘Since investing in 2010, Monica and Gabriela Vinader and their team have exceeded all expectations, and we are delighted to be associated with the brand.
‘The business has as strong following of brand-loyal customers who are our best advocates.’
