The US and EU markets contribute equally to the overseas sales of the brand that makes for 20 per cent of its overall sales.
The menswear brand had also received an investment of £150,000 from VGC Partners in 2018, which was used to establish its business model to enable mass personalisation and introduce new products every six weeks, as per British media reports.
“The growth we’ve seen in the past few years has been incredible. Hitting our 2022 target by November 2020 just proved to us that we’ve created a brand that is truly desirable. Clothing is inherently personal so we’re proud to see so many customers enjoying and recommending our collections,” Percival Menswear’s creative director Chris Gove said in a release.
“The investment from VGC will be essential in our next stage of growth and will allow us to deliver more quality, British design to our customers in the UK, as well as expanding our platform to service our growing customer base in the US and Europe,” he continued.
Parminder Basran, founder and managing partner at VGC Partners, said: “Menswear accounts for around a quarter of the total clothing market and while undoubtedly competitive, Percival has carved out a niche by creating a new take on the classics and delivering consistently high levels of quality. The team inherently understands fashion, but also its customers and as a result creates collections that continue to sell out, and our investment will help them service that continued demand.”
Fibre2Fashion News Desk (KD)