Foresight invests additional $1.2m in The Idle Man

Following the transaction, The Idle Man will launch its own-label range of clothing.

Since Foresight's initial backing, the company has appointed former Amazon Europe financial director Amanda Minshull-Beech to its senior management team.

The investment marks the second time in as many months that Foresight has provided follow-on funding to a portfolio company. In August, the GP injected an additional £4.5m into Cemex UK, a supplier of building materials and producer of cement.

Previous funding
In May, Foresight led an investment of £350,000 in The Idle Man alongside angel investors.

Company
Headquartered in London and founded in 2014, The Idle Man is an online menswear retailer. The company sells clothing, shoes and accessories from brands including Levi's, Converse, Vans and Eastpak. It has also recently launched a collaboration with UK streetwear brand Hype.

The Idle Man has reported an average 40% month-on-month growth rate since launching in May.

People
Oliver Tezcan, formerly head of menswear at Asos, is founder of The Idle Man. Darrel Connell, a director at Foresight, led the GP's initial investment in the company.

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• Topics
• Expansion
• Consumer
• UK / Ireland
• United Kingdom
• Foresight Group