British fashion brand Astrid & Miyu has just closed a £4 million investment round with jewellery-focused investment firm, Aeternum Holding.
PJ has long named Astrid & Miyu as a brand to watch, with its products and retail stores meeting today’s consumer demands, and now it’s got the investment it needs to reach new heights and fuel ambitious growth plans.
The mostly female company, which was set up in the apartment of founder and chief executive officer Connie Nam in 2012, is currently growing at more than 200% year-on-year, has quadrupled its team size in less than two years, and is highly profitable.
Astrid & Miyu leverages its multi-channel strategy, engaging mainly through its own e-commerce, social and retail channels whilst also working closely with select retailers such as Selfridges in London and Le Bon Marche in Paris.
“We have created a highly engaged community with a cult following through multiple customer touch points that provide products and services that our customers genuinely need and want,” states Nam.
Astrid & Miyu experienced rapid growth last year when it introduced a premium piercing service in August. The brand offers ‘Instagram-worthy’ piercing services at its stores, boasting a 90% occupancy rate on piercing appointments at the Bond Street flagship and a dedicated piercing studio in Selfridges.
Going forward, international expansion is top of the radar for the Astrid & Miyu as it launched its US website earlier this year and has just returned from two highly successful pop up stores in Soho, New York in March and June of this year. The brand experienced 70% of highly engaged March customers returning to the June pop up, over 100 press and influencers visiting the store, and a 30% repeat rate with their general customer base.
Aeternum has been watching Astrid & Miyu for a while and believes the success of the company lies in its multi-channel direct to consumer approach as well as the strong, dynamic company culture.
“At Aeternum we are excited to invest in Astrid & Miyu. We love the idea of a brand envisioning ‘East meets West’ conceived by a smart woman who understands her audience. We are in constant contact with many brands and we found Astrid & Miyu as one of the most alluring stories in the market.,” says Aeternum chief executive officer, Markus Lampe.
He adds: “Connie, the founder and CEO of the brand, has created a dynamic culture in her team of mostly young women passionate about what they do. With her relentless energy and spirit for innovation, she has been able to inspire her team and us as an investor.”
Most recently Astrid & Miyu launched a piercing studio at its Shoreditch boutique, and introduced a wider selection of earrings designed exclusively for piercing.
The brand has also added Unisex designs to its portfolio after witnessing a rise in men coming into store looking for products for themselves.
News Source: professionaljeweller