LONDON, February 8, 2016 /PRNewswire/ --
Piper, the UK's leading specialist investor in consumer brands has led a £20m investment into British affordable luxury jewellery brand, Monica Vinader. Alongside its own investment of £14m, Piper has brought in US consumer specialist Winona Capital, who have invested £6m to help accelerate growth in the US.
Monica Vinader founded her eponymous business in 2007 to provide customers with affordable luxury pieces that bridge the gap between costume and fine jewellery. The brand quickly became renowned for its iconic friendship bracelets, vibrant gemstones and cutting edge diamond pieces enabling customers to style, stack and personalise their jewellery. The Duchess of Cambridge, Kate Winslet and Alicia Vikander are among Monica Vinader's many high profile customers.
The business, which is run by Monica and her sister Gabriela, currently has three London stores (in Chelsea, Mayfair and Canary Wharf) and a rapidly growing global footprint in the US and Asia; its jewellery can be found in department stores both in the UK and internationally. Monica Vinader employs 168 staff and turnover has trebled in the last three years to reach £23m.
The investment will support the continued growth of the business. This will include a further roll-out of its own and franchised stores, expansion of its wholesale distribution, particularly in the US, as well as continued investment in its own e-commerce channel. This is the seventh investment from Piper's £107m, fifth fund.
Monica Vinader said: "We undertook a rigorous review of potential partners we could work with on our next stage of growth. It was the passion that Piper and Winona demonstrated for our brand and our growth ambitions that really appealed to us. They stood out from all the others due to their deep understanding of how to grow consumer brands and their ability to add significant value through their networks, knowledge and in-house expertise."
Chris Curry, managing partner of Piper, said: "We have been tracking the growth of Monica Vinader for a number of years and have always been impressed by Monica and Gabriela's vision for their brand and their determination to build a uniquely differentiated and highly valuable business. We very much look forward to a partnership with the team that will see Monica Vinader become a global brand legend."
As part of the transaction, existing investor Beringea, manager of the ProVen VCTs, has realised part of its investment in Monica Vinader Limited.
Piper is the leading private equity firm specialising in consumer brands with strong growth potential. Founded in 1986, it has an enviable record of transforming businesses into iconic brands - previous investments include Boden, Las Iguanas and Maximuscle. Piper also devised the concept of the 'female-friendly' bar by founding and developing the Pitcher & Piano chain. Focusing on MBO, MBI or growth capital investments in the sectors of retail, leisure, consumer products and services, Piper targets businesses with a £5m-£50m turnover.