A luxury online nightwear store is expanding its range and creating jobs thanks to a £500,000 funding package.
Night Store Limited has secured backing from MEIF Maven Debt Finance to invest in marketing to grow its digital presence online.
It will also allow the north Derbyshire business to buy new stock to expand its product portfolio and increase its warehouse capacity to service its growing number of customers.
The business also aims to strengthen its senior management team by making three key hires in the next 12 months.
The business is based at Whaley Bridge in the High Peaks, and sells direct to consumers via its own website and via wholesale through independent retailers and larger online stores such as ASOS and Next.
Right now it sells own-brand night products, mainly women’s pyjamas and dressing gowns, but management want to use the funding to launch a range of lingerie and men’s nightwear.
It was founded by husband-and-wife team Daniel and Charlotte Hawthorne, who started it as a side-line alongside their previous jobs.
Charlotte is an experienced buyer in the fast fashion industry for brands like The Hut Group, Boohoo and Missguided, and began to design and source her own range of women’s nightwear to sell online.
Daniel also has significant experience in sales, marketing, branding, and product positioning, having worked for several creative design, advertising, and media marketing companies, and with brands such as Disney, Coca-Cola, Apple, and Nike.
The couple said they had seen strong growth since formally launching in 2020.
Last year Daniel told the Manchester Evening News: “We’re very happy with the way it has started and have regular moments where we pinch ourselves at the success.
“We love what we’re doing and work very well together as a couple – we complement each other.
“There’s definitely been a shift in the way people are going to be working going forward – smart pyjamas are not going to be going away any time soon.
“We see from the number of people who tag us on Instagram that people love wearing our pyjamas in work meetings.”
He said: “We’re delighted to partner with the MEIF and Maven Capital Partners. Jonathan and the team at Maven have been incredible to work with and it’s clear they share our vision for the exciting growth plans ahead.”
Jonathan Lowe, Investment Director at Maven, said: “Night Store has enjoyed impressive growth to date and has already attracted the interest of several major retail brands after launching just 18 months ago.
“Daniel and Charlotte are a strong management team that have the relevant experience and knowledge to drive the business forward and take advantage of the growing marketplace in which they operate.”
Will Morlidge, Interim CEO at the D2N2 Local Enterprise Partnership, said: “I’m delighted to see this investment by the Midlands Engine Investment Fund into this ambitious High Peak business.
“The investment will allow Night Store to maximise and accelerate commercial opportunities, supporting the economic development of our region.”
The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2022 and the European Investment Bank.
