‘Plus-size’ label with big plans for growth
‘PLUS-SIZE’ fashion label Scarlett & Jo expects turnover of £1.5million in its first year of trading as an independent company and is planning to raise £5million – including £1million through crowdfunding – to finance further growth.
It secured listings with SimplyBe, Yours, Amazon Prime and Asos Marketplace within its first six months and is poised to be launched on the Debenhams’ website.
The business – founded and owned by ra-ra skirt designer Gifi Fields – achieved a half-year turnover of £535,000 to May 2016.
Fields said: ‘We have made huge strides since our launch six months ago.
‘We are looking to extend the brand trademark to shoes, accessories, bags and beauty care products and we envisage a stock market listing within a timescale of three to five years.’
Scarlett & Jo, which was previously an online brand exclusively for fashion retailer Evans, produces clothes in sizes 14 up to 32.
Obesity rates are rising fast in the UK and demand for ‘plus-size’ fashion is expected to surge. Retail research agency Conlumino estimates the market for larger clothing is now worth £5.4billion and will rise to £6.4billion by 2019.