ACAI more than doubles revenue following investment by DSW Angels
ACAI – the unique women’s outdoorwear company – has bucked the trend of retail gloom in the Christmas period with reported revenues more than doubled on the previous year. This Chester-based business is run by husband and wife team Joe and Kasia Bromley.
After arranging a scale-up investment in September 2019 from DSW Angels, the venture capital business of Dow Schofield Watts, the couple have smashed their own ambitious sales targets, hired former head of Berghaus, Richard Leedham, as Chairman, and also found time to have a new baby.
The Bromleys have already started an ambitious investment programme by strengthening the ACAI product design capability. The next stage of their plan is to extend ACAI’s reach with a significant digital transformation project, investing in both the ACAI platform and the scale and capability of the in-house team. With the support of new leadership and enhanced access to funding through DSW Angels, the Bromleys are working to build on the success already achieved and ultimately develop ACAI into a global brand.
Commenting on the results, Joe Bromley, CEO of ACAI, said: “We are delighted with the results since the investment by DSW Angels – we have had three record sales months back-to-back and an incredibly strong start to 2020. The support of our board has enabled us to up our game as a management team and make much more informed decisions. The birth of our second child immediately following the investment has brought us a huge amount of joy and taking the investment has been a significant stepping stone in securing our future as a family. Kasia and I are incredibly excited about the prospects for ACAI in the decade to come.”
Keith Benson, founding partner of DSW Angels further commented: “This investment was as much about backing a very talented management team in Joe and Kasia as the outstanding business and range of product that they have developed. We are delighted with the progress made by the business in the first quarter of our investment despite some significant personal challenges for Joe and Kasia. This progress is a testament to their commitment and drive to succeed. ACAI is one of the stand-out UK apparel brands to look out for in 2020.”
DSW Angels is currently raising funds for a number of investments to be completed in the first half of 2020. The DSW Angels investments are typically EIS compliant and open to high-net-worth individuals looking to commit a minimum of £5,000 per transaction.