Online luxury children’s clothing retailer AlexandAlexa has secured £1.5 million from MMC Ventures in a deal which will see the private equity firm take a minority stake in the business.
Founded in September 2007 by husband and wife team Alex and Alexa Theophanous, the internet company aims to use the investment, the size of which has not been disclosed, to expand internationally. AlexandAlexa, which stocks brands such as Ralph Lauren, Burberry and Little Marc Jacobs for children of up to 12 years old, forecasts turnover of £40 million by 2014, according to a MMC Ventures statement.
Rory Stirling, investment manager at MMC Ventures, will join the company’s board.
AlexandAlexa founder and CEO Alex Theophanous comments that he and his wife, Alexa, will continue to ‘take an active role in leading the business’ and he is confident about increasing the brand’s presence abroad over the next five years.