Edinburgh-based baby brand Cheeky Chompers has started its first external fundraising round in order to raise capital for its next stage of development, following soaring sales figures across China.
The company is raising capital in order for founders Julie Wilson and Amy Livingstone to focus on growing the business and build its global presence.
The fundraising will be led by Edinburgh-based corporate finance boutique Quest, and will focus on digital growth, new product development, brand building in key markets and infrastructure. Mike Welch, chairman of corporate advisory firm Full Circle Partners will also be providing support in a strategic advisory role.
“While we have been self-funded from the start and grown organically to date, we think the timing is right to accelerate the business so we can get to the next level,” stated Julie. “We see strong growth opportunities through both existing and new channels to market, and we’re excited to have Mike on board as we enter the next phase of growth.”
“Julie and Amy have created a global brand with loyal big name customers in a relatively short space of time and I’ve got the utmost respect for what they’ve been able to achieve,” commented Mike. “There is a real opportunity for Cheeky Chompers to scale into one of the main players in a fast-growth market segment and the capital raise will help them grow at the kind of pace necessary to get there.”
Cheeky Chompers’ customers include John Lewis, JoJo Mama Bebe, Fenwicks, Tesco, Boots, Nordstrom and Buy Buy Baby. It sells into 34 countries and is currently experiencing a soar in sales in China via the company’s flagship online store on online giant Tmall.com, with more than 250 stores stocking the brand across the country.
