Beringea invests £1.5m in Monica Vinader

Beringea injected £1.5m from its ProVen VCT and ProVen Growth & Income VCT funds, while Clark Group, former backer of Links of London, invested £1m. 

The funding will be used to accelerate growth plans by establishing additional UK-based own-brand shops and international distribution.

Clark Group is a private family business based in the south of England with commercial interests in engineering, manufacturing and property, as well as investments in the luxury retail and online sectors.

Previous funding
Beringea originally invested in the company in October 2010 to aid the financing of its first shop in Mayfair, London, and to further develop the supply chain.

Company
Monica Vinader retails and wholesales rings, pendants, earrings and bracelets, which are distinguished by their proprietary cut of stones, hammered metals and colour combinations.

The business was established in late 2007. In addition to its Mayfair shop, the jewellery is also distributed in the UK through Selfridges, Harrods, Liberty, Fenwick and Net-A-Porter. The business also has two franchises in Spain.

People
Beringea partner Karen McCormick will remain on the company's board following the financing round. Clark Group chief executive Steven Clark will join the board following the transaction.

Advisors
Equity – Osborne Clarke (Legal); Pinsent Masons (Legal); Steele Raymond (Legal).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Beringea Limited