ME+EM, a London-based luxury fashion brand, announced that it has secured £55M (approximately €65.8M) in a funding round led by Highland Europe, the growth investor behind Matchesfashion.com, Threads, and Huel.
The UK company says it plans to utilise the funds to open new stores in New York and Boston. The fashion brand is also accelerating expansion in Australia, the Middle East, Canada, Switzerland, and Hong Kong.
“From day one we’ve been passionate about democratising luxury for busy women of all ages who want to wear beautifully tailored clothes, made with care and attention to detail, that fit perfectly,” says founder and CEO Clare Hornby.
She adds, “Having seen soaring demand for our clothes in the US and other key international markets, we know that there is a global appetite for the cut, quality, and style that we have created. As a digital-first, data-driven business we are seeing a huge opportunity ahead of us and with Highland Europe’s expertise in this area, we can use technology to delight and serve our customers across the world even more effectively.”
ME+EM: What you need to know
Clare Hornby founded ME+EM in 2009 to offer designer quality at a fair price. Frustrated by how hard it was to find flattering and on-trend clothes, Clare decided to offer women a solution to this persisting problem.
ME+EM says it designs products for busy women with exceptional quality and fit at an accessible price point delivered by a direct-to-consumer proposition. From its curated collections, women can buy individual pieces online and in-store, or shop head-to-toe dressing solutions.
The company has witnessed triple-digit revenue growth over the past year and quadrupled over the last three years. The company utilises a data-led approach and direct relationships with manufacturers for increased transparency and visibility across its entire supply chain.
The brand is a member of sustainable initiatives such as Better Cotton, as well as the global auditing platform SEDEX and the Ethical Trading Initiative.
The brand is regularly worn by the Duchess of Cambridge and Strictly presenter Claudia Winkelman, among other style icons, says the company.
More than half of the SS21 collection was made from natural or recycled materials. Its trims, fabrics, samples, and write-off stock are donated to art schools, colleges, and charities such as SmartWorks and NEWLIFE.
ME+EM has six boutique stores across London and concessions in Harrods, Selfridges London and Selfridges Manchester.
Highland Europe invests in exceptional growth-stage software and consumer internet companies. The VC has raised over €1.8B and has invested in companies such as Adjust, AMCS, Camunda, ContentSquare, Featurespace, and many more.
With this investment, Highland Europe will join existing investors including Sir Charles Dunstone CVO, Venrex Investment Management, makeup brand Charlotte Tilbury, Not on the High Street, and fashion shopping app Lyst.
Sam Brooks, Partner at Highland Europe, says, “ME+EM’s relentless focus on quality, fit, and sustainability has inspired an incredibly loyal customer base and has generated impressive growth over the past several years. In addition to the success in the UK, we are impressed by the strong demand coming from international customers, a testament to the brand’s global relevance and appeal. Clare is a fantastic leader and we are thrilled to partner with her and the ME+EM team.”