LONDON, ENGLAND--(Marketwire - Dec. 22, 2010) -
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MMC Ventures (MMC), the growth company investor, has invested £1.5 million in AlexandAlexa, www.alexandalexa.com, the UK's leading online retailer for luxury children's wear, selling premium brands such as Ralph Lauren Kids, Burberry Kids, Little Marc Jacobs and Junior Gaultier. MMC is taking a significant minority stake in the business. The company is forecast to turnover £40million by 2014 through international expansion.
AlexandAlexa is a family owned business that was founded in September 2007 by husband and wife team Alex and Alexa Theophanous. Based in London, the duo set up the business in order to bring the best of international children's fashion, online. AlexandAlexa currently stocks over 75 luxury and premium brands, offering children's designer clothes, shoes, toys, books and gifts for children aged 0 – 12 years. The business continues to focus on securing high-profile luxury and premium children's wear brands. For Spring/Summer 2011 brands such as Baby Dior, Stella McCartney Kids, Kenzo and Tommy Hilfiger join the list of luxury labels the site stocks.
Rory Stirling, investment manager at MMC Ventures who joins the Board of the company comments: "MMC Ventures invests in fast-growing UK companies and AlexandAlexa is a unique business that has demonstrated significant growth since it was founded in 2007. We work in partnership with the businesses we invest in and we are able to offer operational, financial and strategic support. AlexandAlexa has a strong track record in the retail sector and we look forward to driving international expansion and taking the business to the next level."
Belinda Earl, chief executive of Jaeger and Aquascutum sits on the AlexandAlexa Board as non-executive chairman. Belinda Earl comments: "Since joining the board in July 2009, I have been incredibly impressed with the success of AlexandAlexa. This important investment from MMC Ventures is a testament to the strength of the AlexandAlexa brand and we expect the business to more than double in size in the next 12 months".
Alex Theophanous, founder and CEO comments: "My wife, Alexa, and I are incredibly excited to see our online concept develop into a global brand over such a short period of time. We continue to take an active role in leading the business with the strong management team and we are confident about accelerating the brand proposition further, over the next five years."
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