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Matalan has announced that it has secured an additional £25m of funding from its anchor investors Invesco, Tresidor, Man Group and Napier Park.
The retailer stated that the funding will be used to accelerate investment to support Matalan’s multi-year business transformation plan and the delivery of its strategy.
This will include investment in store refreshes, new store openings, supply chain investment, and the launch of a new app which will underpin Matalan’s e-commerce channel and loyalty programme.
Karl-Heinz Holland, executive chair of Matalan, said: “We are delighted to have secured this additional funding from our anchor investors. The funds will enable us to build on the progress we have already made in delivering our strategy, and accelerate investment across the business – from our stores through to our supply chain. We look forward to driving Matalan’s transformation forward as we continue on our journey to deliver sustainable, profitable growth.”
The news follows the recent appointment of Sarah Welsh to the role of chief product, brand and commercial officer. She was most recently N-Brown’s CEO for five years. During her tenure she was credited for transforming the group’s traditional catalogue offer to a more digital footing.
Prior to that, she also worked for 17 years at Oasis Fashion, where she began as a senior buyer and eventually rose to the position of managing director.
Additionally, Welsh held senior buying roles at Miss Selfridge and River Island, after starting her retail career in Laura Ashley as an assistant floor manager. In her new role, Welsh will be responsible for putting customers at “the heart of Matalan’s proposition as it looks to grow its market share and appeal to a broader audience”.
