Outdoor clothing secures investors’ seal of approval
TECHNICAL climbing and ski clothing brand Jottnar has secured a £400,000 second-round investment to support its expansion plans.
Backing came from the Development Bank of Wales, Venrex and angel investors including Paddy Byng, former founding investor of Rapha, who will also join the business as a non-executive director.
Mr Byng previously headed up the marketing for Polo Ralph Lauren and Dunhill, as well as being chief executive of Smythson and Asprey. He will help guide the fim through the next stage of its development, including the expansion of the product range with a move into technical skiwear.
The Cardiff-based online retail business was established in 2013 by former Royal Marine commandos Tommy Kelly and Steve Howarth. As lifelong mountaineers, climbers and skiers, the pair were on exercise in the Norwegian mountains during a fierce Arctic winter when they were inspired to launch a range of technical outdoor clothing that would protect against extreme weather conditions, while capturing the purity and elegance of the Scandinavian landscape.
Its clothing which is now the choice of guides, mountain rescue teams, expedition groups, specialist military units and professional climbers and skiers all over the world. International sales through Jottnar’s website now represent 40% of the business.
Former Wales rugby captain, Sam Warburton, and actor, Henry Cavill, are amongst a raft of famous names wearing Jottnar clothing.
The latest equity investment will help to fund the company’s growth via an expanded product range, additional employees and marketing activity. It will also allow the company to continue to innovate in fabric technology, which to date has seen the introduction of market firsts such as water-repellent goose down in its insulated jackets and the use of soft and ultra-warm Himalayan yak wool in its base layers. The most recent development has been in its waterproof breathable membrane that it now uses in all of its shell jackets.
Co-founder and director Mr Kelly said: “We are now ready to take the next step in developing our offering, which this winter has seen a 40% expansion in the size of our range as well as an addition of key employees.
“The combined knowhow and experience of the development bank, Venrex and our private investors has been invaluable to us. Having such a strong advisory team alongside us equips us well for the road ahead.”
Leanna Davies of the Development Bank of Wales, said: “Tommy and Steve have developed a global reputation as the go-to brand for high-quality technical outdoor clothing used by some of the world’s most demanding users.
“Following on from our initial support, our equity investment is a reflection of our belief in them as entrepreneurs and their product. As a niche brand, they have great vision but need a helping hand to reach their full potential.
“We’re looking forward to working with them on the next stage of their journey.”