Bedfolk secures £1m investment
The Cotswold Company majority shareholder True has invested £1m in bedding retailer Bedfolk.
The funds will be used to expand its collection and add invest in staff and marketing.
Founded by husband-and-wife team, Nick and Jo James in 2018, Bedfolk set out to simplify the bedding purchasing experience, providing its customers with a curated collection of ethically produced luxury bedding at an affordable price point. The retailer’s products are manufactured in Portugal.
Bedfolk recently issued almost 12% of shares, suggesting a valuation of about £8.5m, which would value the James’ stake at about £5.8m.
In addition to its financial commitment, True will look to support the business through making valuable introductions to ecommerce and brand experts in support of building out the business’ advisory board. In becoming part of True’s portfolio, Bedfolk will gain access to True’s broad network of retail and consumer corporate partners and its portfolio of other brands from which to share ideas and best practice.
‘Nick and Jo have successfully built a strong brand identity in the “wind-down” space that sets it apart from its competitors – a space which has only become more popular with consumers in the past year,’ says Claire Cherry, Pure investment principal.
‘We see that consumer behavioural change will continue to gravitate towards relaxation in the home, in line with the growing emphasis on good mental and physical health. Our sweet spot is finding businesses operating at the precipice of changes such as this, combined with great founding teams. We believe we’ve found this in Bedfolk. Both our investment and innovation teams are looking forward to helping support Bedfolk through introductions we can make to our specialist retail and consumer network.’
‘After a period of rapid growth we sought out investors who could not only provide capital, but who could also unlock additional value as we enter our next phase of growth. True has a proven track record of working with best-in-class D2C brands such as hush and maude, helping to grow these brands with their specialist expertise and wide-ranging network. We’re thrilled that they’ve joined us on our journey, and look forward to executing on our exciting plans for the year ahead,’ says Nick James, Bedfolk md.