Duo secure £7m of investment funding

Piglet and Bedfolk secure £7m in investments

Soft furnishings retailer Piglet has secured a £6m investment, while bedding retailer Bedfolk has secured £1m.

Active Partners has invested in Piglet as it looks to reach new markets.

Jessica Mason launched Piglet in 2017 with a collection of stone-washed flax-linen bedding, before expanding into sleepwear, table linens and curtains. Piglet’s parent company Sextant recently issued 24.6% of new shares, suggesting a valuation of around £24m.

As well as selling online its ranges are available through Selfridges, John Lewis and Fortnum & Mason. In addition to its UK operations, it has a second base in Illinois following rapidly growing demand for Piglet linens in the US.

‘From starting the business in my mother’s garden shed to reaching tens of thousands of customers with an everexpanding range of products, it’s been an incredible experience so far. We’re thrilled to have Active Partners on board, whose focus on community-first brands and experience with founder-led businesses has already proven invaluable, to take the next step of Piglet’s journey together,’ says Mason.

The Cotswold Company majority shareholder True has invested £1m in bedding retailer Bedfolk. The funds will be used to expand its collection and invest in staff and marketing, it said.

Founded by husband-and-wife team Nick and Jo James in 2018, Bedfolk set out to simplify the bedding purchasing experience, providing its customers with a curated collection of ethically produced luxury bedding at an affordable price point. The retailer’s products are manufactured in Portugal.

Bedfolk recently issued almost 12% of shares, suggesting a valuation of about £8.5m, which would value the James’s stake at about £5.8m.

‘Nick and Jo have successfully built a strong brand identity in the “wind-down” space that sets it apart from its competitors – a space which has only become more popular with consumers in the past year,’ says Claire Cherry, Pure investment principal.

‘We see that consumer behavioural change will continue to gravitate towards relaxation in the home, in line with growing emphasis on good mental and physical health. Our sweet spot is finding businesses operating at the precipice of changes such as this, combined with great founding teams. We believe we’ve found this in Bedfolk.’

Arlo & Jacob joins TCM fold

Upholstery chain Arlo & Jacob has joined the TCM Living portfolio after the company bought it from its directors.

Mark Smith, TCM Living chief executive and Julie Smith bought Arlo & Jacob from administration in May 2020, with the blessing of TCM Corporation, TCM Living’s Thailand-listed parent company. TCM owns Alstons, Ashley Manor, AMX Design and Alexander & James.

The chain plans to launch a flooring collection later this year, utilising the skills of TCM Corporation.

‘I am pleased with the progress that has been made since Julie and I acquired the business just over a year ago. Bringing it into the TCM Living Group is the logical next step now that the business is on more solid foundations and can leverage and benefit from the wider group’s buying power, skills and know-how,’ says Smith.

The chain has introduced a quick delivery range, available in two weeks

Flooring Superstore continues expansion

Flooring Superstore has continued its expansion, passing the 30-store milestone.

The chain reached 25 branches in January, and has since opened stores in Basingstoke, Carlisle, Hull, Lincoln, Norwich, Orpington and Reading as it looks to add 25 outlets this year. Catford, Kidderminster, Plymouth and Stevenage are the next scheduled to open.

‘We are seeing lots of firsts with the new stores, such as having a presence in areas such as Humberside, Cumbria, Lincolnshire and Norfolk for the first time,’ says Chris Barber, Flooring Superstore chief retail officer.

‘Our strategy is built on opening in areas with large conurbations and on busy retail parks with high footfall where we can make our own contribution to the local economy in these areas.

‘The south-east and greater London are among our key target areas, but there are several other large urban and retail centres on our radar,’ he adds.

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