- Huw Hughes
-
|
Dutch eyewear label Ace & Tate has raised 14.25 million euros to help
fund its European expansion.
The Amsterdam-based brand said the money will be focused on three areas:
retail expansion in new and existing European markets; new technologies to
bolster its omnichannel model; and building on current sustainability
initiatives.
The seven-year-old company aims to grow its physical store network by 70
percent in 2020 to a total of 70.
This latest round was led by existing investor Rinkelberg Capital LTD
and brings its total funding to 57.5 million euros.
The contemporary brand has grown 60 percent year-on-year for the past
two years and expects to more than double its revenue in the next two
years.
“Ace & Tate was founded to make quality, stylish eyewear accessible, by
giving our customers the best retail experience possible. The recent round
of funding will allow us to unify our physical and digital retail channels
even further, to create a frictionless, more personalised shopping
experience for our customers,” founder & CEO Mark de Lange said in a
statement.
“As we move into 2021, our customers remain our focus. We will continue
our
mission to lead the eyewear industry to be more accessible and
sustainable.”
Photo: Ace & Tate tore in Wiesbaden, Germany. Via
Facebook.
