Le Slip Français, an online clothing retailer, has announced a Series A round from Experienced Capital along with previous investor 360 Capital Partners. It plans to expand across Europe and into Asia.
The French company declined to reveal how much the round is but a spokesperson told us that Experienced Capital usually invests between €3 and €15 million in a round.
While vague, these new funds will be used to enhance its product range and presence in France with a view to pushing into new markets in Europe and Asia over the coming two years. The company added that it reached €8 million revenues this year through its products (specialising in underwear and swimwear) which are made in France.
The majority of sales are online – about 70% of this revenue – but the company has some partnerships with Parisian high street stores and distributors around France. It will now push its online sales strategies into new regions.
“Experienced Capital have a proven track record of helping family owned retail businesses, and affordable luxury firms build their brand and scale; the fund is young, and built around entrepreneurial values that are invaluable to our business at this stage of its development,” said Guillaume Gibault, founder of Le Slip Français, of his company’s new funds.
Le Slip Français previously raised a €2 million seed round in 2015 from 360 Capital Partners, which has re-invested in this round.
“This fresh round will allow the company to take on the next challenges including a new product range dedicated to women, and an ambitious international rollout in Europe and Asia,” said Emanuele Levi, partner at 360 Capital Partners.