Varley, the international performance fashion brand, has announced that it has secured a £3.9m investment from two of Europe’s most renowned business leaders, Ron Dennis and Anders Povlsen, to enable the business to continue its rapid growth and development.
Lavendo Investments is owned by Ron Dennis, who is best known as a founding Shareholder, and former Chairman and CEO of the McLaren Technology Group. During his 37 years of leadership, McLaren grew to be not only one of the most successful F1 teams in history but also a global technology and automotive group. Brightfolk A/S is part of Heartland, a holding company owned by Danish investor Anders Holch Povlsen.
Since it was founded by husband and wife team Lara and Ben Mead, Varley has sought to differentiate itself through quality and innovation and produce collections that are highly technical in nature with an elevated yet understated aesthetic for the modern woman. The form and function of each piece has to support their customers’ multi-tasking lifestyles. The business has grown strongly in both Europe and the US and sales for the year to September 2019 have risen to £8m.
Varley will use the funds to strengthen its management team and the business is currently in talks with some senior candidates. It also plans to develop its e-commerce offering further, strengthen its distribution and create new ranges such as ski and travel collections which will be produced with the same attention to quality as all of Varley’s performance clothing.
Ben and Lara Mead said: “We are delighted with this investment and the faith shown in us by Ron and Anders. Their support recognises all the hard work we have put in to create a brand that supports modern women and their active lifestyles. This investment will enable us to elevate Varley to the next level and ensure we can reach a much broader customer base.”
Ron Dennis added: “When I discovered Varley, I realised immediately that it was a very special company driven by the same meticulous attention to detail and quality that I established at McLaren. I believe this business has the potential to be a world-leading fashion brand and I am delighted to become a chapter in that story.”