A fashion eCommerce business backed by singer, dancer and Britain’s Got Talent judge Alesha Dixon has closed its fourth funding round and is now “moving towards profitability”.
Launched in 2014, Little Black Dress has now raised a total of £2.5 million, with the latest funds to be used for tech investment, job creation and further expansion.
According to the company, the luxury fashion marketplace is “broadly profitable”. Its other key achievements include selling 90,000 dresses to date and more than 5.8 million website visits.
“We are now moving towards profitability, which in today’s world of turbulence in the retail sector, is a major achievement,” said chairman Ian Langley.
“We are confident that we are continuing our growth rate and remain quietly confident the next season will be better than ever, as we begin to take a stronghold as a premium luxury marketplace for fabulous dresses.”
Dixon, who is a shareholder and board member, helped design some of the most successful dresses on the website, which has sold more than 90,000 units since its launch.
CEO Mark Evans added: “One of the biggest challenges the business has faced has been cash flow like any other business. It has been a challenging and exciting year to say the least.
“We are pleased to say that we are entering the next phase of the brand’s development with a sense of confidence and optimism.”
Little Black Dress’ shareholders also include founder David Walter and Greater Manchester Combined Authority (GMCA).